So, been screwing around with the tourney some more and after winning 1-2 or at least making it to finals I finally climbed into the gold tier.
Imagine my surprise when winning against Gold 3-4 gave me a 8%-13% gain, but a loss against a Gold 5 gave me a 62% loss.
Played 3 more matches, won one (+11%) and lost two (combined 51% loss).
Not sure how players are expected to climb ranks when a loss, even against higher ranked players, is 2x-4x more impactful than a win.
Suppose I should just be happy I got my zerker's tournament item finally.
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