Settle down. These are not complaints, they are legitimate concerns. I am certain there are more teams than mine who have a problem with those rules and likely will not participate because of them.
So in your opinion, the tournament is not for "honor and glory" or competitiveness at all? Only community?
The action you suggested may solve the issue, because your team is the only team I know of who would be affected by changing the rules to 4 player teams only, but your leaving on that note is not an optimum solution because it would leave people salty. Revising the rules is a better course of action, as it is a community effort and resolution, as opposed to you leaving against your team against your wishes to bring some kind of false peace.