As a primarily solo queued player, I feel I'm going to find myself doing these instead of ranked. This just seems so much more fun and less stress knowing I can sign up knowing when a tournament is (play on my schedule!) and there are tangible rewards for doing so.
If you lose? Join the next one, and not have the stress of watching your rank drop.
Ranked Tournaments aren't scheduled so often that you can play them consecutively instead of Ranked.