I think the concept of Light mattering in PvP is flawed to begin with. The whole idea of PvP is about testing skill, speed, and guile against an opponent in fair competition. Imagine the Olympics with level advantages enabled. Joe Blow wins the pole vault because he had a 310 pole. It's plain stupid.
I think they're floundering around trying to come up with an 'elite' Crucible event, but level advantages is not the way to do it IMO.
Implement a tournament system or something. Enter IB and the game queues you up until it has 48 players, which it divides into 8 teams of 6. Play round 1 matches and the top 3 players from each team move on. Round 2 the same. Now there's two teams of six consisting of the best players of the first two rounds. The final game is played and all players on the winning team get the max reward, no level advantages, no parties.
Just an idea. Maybe have a separate tournament for fireteams of 3 and/or 6. Idk, just throwing shit out there.