Based on initiative seems dumb.
It's been good enough for elimination rounds for the past couple years. What's good for the geese is good for the gander.
Now instead of incentivizing people to play the best possible list and the ships they want to play you've encouraged everyone to play a game of bid war?
I've been playing X-wing for two and a half years now. I must have played something like 250 games, and watched (in whole or in part) at least that number again. Do you know how many draws I've seen in that time?
5.
So if someone wants to bid 15 points for initiative so he wins if we get that 1% scenario, I say he's welcome to it. 99% of the time I'll be thanking him for a free win afterwards instead.