This is my first season so me having an opinion on the exclusivity of the feast rewards is probably pretty yikes. That said, I believe that this is one of the bigger nails in "set up to fail" coffin. For a competitive game mode having exclusive rewards for reaching higher ranks is basically a given, which is probably why they went with it. However, I think this was a mistake... kind of. I think it's important to reward players who attain Top 100, Top 10, and Rank 1. But, I believe the reward model could've been done in a way that both respects the time put in by players achieving Top 100, and incentivizes new players to come in and play the Feast. This is what I think could've been done to improve the reward structure.
Season rewards would be exclusive to Top 100 winners for 2 to 3 seasons, after which they are placed into a shop and cost wolf collars.
Prices ranging from 10-20 wolf collars, requiring either a Top 10 placement or multiple season investment to achieve. Potentially have these versions be undyeable or recolors of the original Top 100 reward.
Wolf collars would only be awarded to players who hit at least Gold OR Plat. Silver and Bronze would not award wolf collars anymore. Possibly adjust rating distribution so that it is more difficult to get into Gold and Plat with lower winrates.
Rank 1 rewards would never be introduced into the shop.
I think these changes alone would be a great step in the right direction. Depending on the direction taken reward exclusivity could either be kept or reduced slightly. The added bonus of having recolors/undyeable versions in the Wolf Collar shop is that those that won the original versions can also snag a recolor variant if they so choose. But, this also incentivizes new people trying the Feast in order to get rewards. Right now when you come across someone with a past season reward and ask how to get it people will be told "It's from the feast, but it's unobtainable now." That doesn't exactly inspire me to go out and play the mode. But, if you put a version (Original or Recolor) the answer might be more like "It's from the feast, it'll be in the shop next season" or "It's from the feast, there's a recolor variant coming to the shop soon." Now I know it's at least obtainable and I might be more inclined to look up what the Feast is and how I can participate in order to get the reward. Even so it's important to respect the original Top 100 players time investment to get their reward, so if you're going to have it go into a shop it needs to be costly enough that it may take either a similar or longer time investment (Top 10) or require multiple seasons to get the wolf collars necessary to purchase the reward. However, getting Bronze 5 seasons in a row isn't exactly respecting that time investment, so removing wolf collar rewards from Bronze and Silver (Possibly Gold) requires people to put in some level of effort to get into mid to high ranks.