Cure for Late Registration?
At my local Casino, the world famous Bicycle Casino, they have a tourney structure that they call the Quantum Reload;
Session A and B are the same tourney! If you get there early, you can play Session A on the cheap. You can show up late for Session B, and when you time it right, you can late register for a bigger buy-in, but you buy more chips. There is no devaluation of the value of a chip.
All online structures with Late Registration are flawed in that for the most part, at the latest registration, you only have 1 bet. That soon discourages LR. with the quantum structure, that penalty is not so severe.
At the beginning of every tourney, we all start with the average stack. Currently late registration offers us the opportunity to buy-in at a severely crippled stack. If the opportunity existed to LR and get (guessing) 40% of average, I know I would be more likely to buy in late. Would you?
Online sites with LR should investigate how they can improve the late registration experience. The Quantum Reload model offers some ideas. I would think that if there are 3 hours of later registration, then 3 tiers of increased buy-in cost (meaning bigger starting stack) would be a good thing.