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I think you've read the previous discussions, so you know that I support the idea of rewarding first-place finishes. I understand the logic you used, although the implementation could be simpler.
But it all comes down to personal opinion. I believe that the role of placement in a tournament should be significant; otherwise, the influence of the map becomes too strong. You don't have to look far for an example; consider the 6th stage of the World Championship. Differentiating participants only by the day they played was definitely a bad idea because the map was very simple and fast. As a result, the results were very close, and this was not due to the high level of the participants (half of them had played only 1-2 times in their lives), but rather to the conditions on the map. And Topor suggests ignoring placement altogether.
Therefore, the rating should be based more on logic and less on coefficients (i.e., personal perception).
And the sixth stage was still a special case.
Added after 22 minutes
I propose two options for calculating the rating, both of which are strict and fair.