I feel that you're looking at it wrong.
Playing a $5 Matrix game is like playing 5 $1 games (4 tables, and 1 points game). So of course winning one table pays only 1/5th what a $5 table does.
What sets it apart from multi-tabling regular tournaments is that you're playing against the same people at every table. If you have a better-than-average ability to read your opponents and learn/exploit their tendencies then playing the same people at each table is a good thing.
One more thing I would like to add. All players have certain plays and tendancies in their arsenal, so while you are being better than average at reading everyone else, they are also watching you, therefore if you make a certain type of play at one table, you really can't pull it off again at another since your opponents have all seen it. Would it not make more sense to open four different SNG's (for example, take your $10 and open 4 $2 STT's) so if you make a tricky play, or whatnot at one table, the other three will have no knowledge of it. If you are (and by you, I don't mean you personally but but people in general) better than average at reading players and tendancies, four seperate tables should give you an advantege as you can use your play effictively more than once.
What I see here is an ego thing. Poker players usually have big ego's ( myself included) and think that they can crush four tables of the same opponents due to pure skill. I believe in the long run, that the Matrix tourneys are, if not a losing format, break even at best.
Of course this all my opinion, and if you feel you can really, profitably, beat the same opponents four times, by all means go for it. But I really don't think it is as good as it seems. And lastly, I fully understand the subtle differences between a Matrix tourney and four seperate SNG's, but let's all not foeget that Full TIlt is in the biz to make money, and the best way to make money off us players is to pander to our ego's. Hence the creation of the Matrix tourneys. Disagree if you will, just don't insult my intelligence by telling me that I'm looking at it wrong. I'm just looking at it differently.