RARE are done hosting tournaments.
That player makes up less then 1% of the player base, money and time into it isn't something they would want to do, despite it existing in a prior time in this games life... Such as the IRL tourny's before the Pandemic hit and SoC/NAL sails, leagues that were officially endorsed by RARE before Arena was served on the chopping board.
Like others said, they exist pockets of tournaments here and there. Prizes aren't so great with maybe a Serpent sail or Affiliate Alliance sail on the line for winners.
Or in one tournament about 400 bucks split amongst a crew of players. The effort put in to win doesn't give you a good return in investment FYI.
It should be played for fun, but some players literally play all day non stop for years in strictly PvP formats to try and be ''the best'' to show off amongst there niche 20 or so players still in that community that still care about their SoT Ego/Reputation.
Most of these competitive PvP tournaments are crop up by a player that wants exposure, makes a league with their friends and then it suddenly dies after a year or two, and that time frame is being generous as in reality it's mostly just a couple of months in... look at LBH/ LoT/ GalleyGauntlet as the prime examples of not lasting long.
It's a boredom cycle thinking someone has the next best idea.. Hindered by the game and lack of actual tools.