As I understand it, the idea behind the tournament is to hold the final battles with full armies... for over a month... hence the time limit and restrictions...
A tournament with a sponsor means the sponsor sets the overall "ideology" of the tournament (time limits, mod, template) - it's their right, and there's no point in arguing about it.
It's better to suggest a more well-thought-out implementation of this idea.
Added after 26 minutes
Regarding banning heroes? I think we can limit it to the most extreme cases, if this issue is on the agenda, but IMO, banning Ingvar and Karli from the Dwarves is already too much, if we ban Haggeesh and Tilshek from the Orcs, then why not ban Krag as well, and if you think about it, you could even ban Garun, but that's already half of the list, I won't list any more, but for now, I only see one candidate, Wing. Regarding the Mentor, it's an interesting question, and if we discuss it, then we need to immediately clarify how to counter the opponent in case the Mentor is banned?