Cutting out the final stages of play obviously reduce skill edge even further compared to normal Spin n Gos. So I agree, its questionable, if these events are even beatable in the long run, considering that the rake is very high compared to the amount of hands, you get to play in just 6 minutes.
That being said, if you are going to play them, a winner take all format does reward an aggressive style in the early stages, since there is no reward for leveling up and finishing second or third. You gotta win all the chips to win anything, so you kind of have to just go for it.