Thanks for your feedback.
The goal is for PvM players to have something to compete in against other players and something to strive for. The 500M is minimal so it allows anyone to "try" without feeling duped out of money.. but the pot grows with each entry.. 25b may not be a lot, but with enough entries it is reaching 40-50b per day.. which is not too bad for a few minutes of effort.
This is obviously not a newbie friendly feature.. it's a competitive PvM Ladder. As what you said, they cannot compete vs fully equipped players.. but it does give something for them to strive for.. its not just about the Zeny reward, is about recognition and bragging rights, which is quite important for many who are already at the peak.
Sure, some people will be too lazy to try and compete, I'm hoping that the few that choose to work hard at it will find joy is winning a day or having the most won days listed on the NPC (and soon enough, the website and event manager npc in Caspen)