GSL format has been prevalent in Korean esports for a long time now, the idea is to seed them for the playoffs as well as possible & create an exciting single-elim playoffs. It's great for standalone tournaments, very volatile and exciting, each game matters.
The negatives didn't matter too much for the Reykjavik quali, because the team, that wins that single elim, would have to beat everyone else no matter the path they take to do so, but here it matters, because two teams qualify. If two teams qualify instead of one, there is a possibility where the bracket is imbalanced and the clear best 2 teams cannot in this case be selected, if the seeding gets messed up.
I think it should be double elim for this reason too, to make sure nothing funny happens and the best two teams get selected.