In my mind the problem is that they're trying to do too much with the match. Either make it "media friendly", or try to grow the numbers; the two won't work together.
If your goal is to grow the number of competitors entering the match, then costs need to be seen as "realistic"; i.e. more prizes on the table, lower entry fees, better "goodie bags" or any combination thereof. Basically, if you're asking a shooter to give up a week of their vacation and $320, then nowadays, people are going to be asking themselves if it's worth the time and effort.
From what I saw as an observer, they had been going in the right direction and numbers had been increasing (with "celebrity" shooters and the like), but obviously things change and a new direction is being sought.
Making the match "TV Friendly" is, unfortunately, completely in the opposite direction to increasing participation in the event. TV, or similar is only interested in either the winner, or someone with a "story". For example, take the case of Dave*.
Dave had a dog, "Dog Dave". Dave and his Dog used to train every week, with the dream of one day making it to the Bianchi Cup. All year long they would go to the range and practice, Dave and his faithful dog, who would help him fetch targets and reload his magazines. Then one year, Dave finally plucked up the courage and entered the 'Cup, his old dog posting the letter for him.
Then, tragedy hit.
Just a week before the match was due to start, Dog Dave was hit by a truck, putting him into a coma and making his journey to the 'Cup an impossibility. Dave was distraught, he'd only ever thought about going to match with his old faithful friend, how could he possibly manage to go without him? Our story follows Dave as he shoots each match, each one a personal best, until he only has the Falling Plate Match left to shoot...
After channelling all of his practice (accompanied by some Coldplay and slow-mo black and white images) Dave manages to shoot his first-ever perfect 480 48x, making him weep with joy. Turning around after unloading and clearing his gun, he sees Dog Dave, watching him from the stands, his broken tail wagging with happiness. Cue more Coldplay.
That's how you make it TV friendly!!
*names have been changed to protect those who don't exist