If there wasnt a top 3, that has a reward of better drop rates, there would be no incentive for any individual to supply the hamlet with millions of points. Hamlets wouldnt reach lvl 2. The entire point of the top3 & top 20 is to create this incentive. It's not about e-peen.

Some people are happy to grind out their 60k chests without a top 20.
Other groups try and get 1 top 20 on the list to make the runs go quicker.
Other people are willing to dump huge amounts of gil and resources into getting into the top 3 and getting their seals done with.

Time = money. The system is working great.