This is a bad idea for several reasons.
1. I assume that this company is looking for KOTDM-style bouts, not actual backyard wrestling (where people actually try to WRESTLE). There is a significant difference, though the two styles are both lumped together as 'backyard wrestling.' This contest (and this company) are perpetuating the stereotype of backyard wrestling as bloodsport, not as spectacle.
2. Also, a lot of backyard wrestlers don't wrestle in the hopes of going pro; they do it for fun. Most backyard wrestlers who don't have a pro-quality ring know they have little chance of making it to the big time. And I don't think anyone thinks that wrestling Supreme in ONE MATCH an LA indy is 'the big time.'
3. Also, this 'tournament' will supposedly happen after SIX BYK tapes have been made, so that pushes it back to late '05/early '06 at the EARLIEST.