Nah, there really isn't much going on in ISHFWILF, even if you invoke the production. It's boring. I always skip it on bootlegs too. Heard it once, heard it a thousand times.
I don't really mean to say it's bad - it's leagues ahead of Trip, not to mention a bunch of stuff on other albums - but it's just there, nothing exceptional, unlike the rest of the options.
In case you have been living under a rock for the last couple of decades, the format of the tournament is quite clearly borrowed from the TV show Survivor. You may have heard it of it. A few people watched it a bit. It had more than one series. Might've shown up on a major commercial network somewhere. A journalist or two might've featured it in print media too. Bit obscure really. Just like the whole reality TV format.
Anyway, your idea of a more "positive" Survivor has been done. I ran it in 2009. We had one round each for every album (plus b-sides and other tracks from that album's era). It was multiple choice and everybody voted for their favourites to proceed. It was quite fun and I'll probably run it again when this tournament is over. Its results can be an interesting contrast to the more traditional Survivor format, i.e. the current one.