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I think captains should be chosen. Besides the list of captains, we also get a kind of "popular rating," and I think that's interesting.
Four people on a team, in my opinion, is a good number. Better than three.
I'm against any ties to the rating; I think it's just unnecessary hassle for the organizers to track the rating of hundreds of people.
I absolutely don't understand why it's necessary to create different sets of templates for different tiers; it's easier to give everyone the widest possible pool of templates and choose as in previous tournaments: one veto, three templates to choose from.
All-random or draft can be determined by a vote in the tournament itself; I think both options are acceptable.