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Yeah, it sounds like crap. The big thing would be to not slow play, as you know everyone's going to be willing to gamble. If you get AA, KK, or whatever, just shove all in as you'll likely get called. See cheap flops when you can and again shove in with all monsters. Play it kind of like a rebuy with a ton of gamblers in this way.
Try not to wait until the last 5 minutes to gamble, as literally everyone will be going all in then.
But yeah, I really don't think this tournament will be skill based. Whomever wins 20+ all ins wins. I wouldn't pay to enter a tourney like this.
Even if you have the biggest stack with a minute left, 5 average stacks may shove all in on the last hand and the winner of that pot may have more chips than you. Pretty silly.
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