Brendan,
The Pogchamps is oddly fun to watch in spots. Not the super-weak players, who get eliminated pretty fast. The matches between the (relatively) better ones, with the clock ticking, can be dramatic. There are of course ridiculous blunders, but as absurd as they look, it's not guaranteed I'd do much better under pressure with the clock ticking. And many of the players prepare tricky blitz opening lines which can be unpleasant to play into.
I think only noted "streamers" get invited, and video games (which I've never played in any form) appear to be a major component. The oldest dude who ever participated, iirc Rainn Wilson, is a famous TV actor. None of that stuff is going to happen for yours truly. Multiple flying pig emojis would be called for, but I don't know where to find them. 🤣