I'm all for it, simply because I prefer to play with proxies than to not play.
We had plenty of tournaments 10 years ago, and even a provincial Vintage championship with invitations during the golden age of Vintage.
Then the prices started to rise, most older players in my community decided to cash out and get a down payment on a house instead.
Very few younger players were able to afford competitive decks, even in a 10 proxy event. It ended up being the players who kept their cards crushing the younger players, who just never came back, and I don't blame them. I wouldn't play a format where I get blown out just because I don't have money to be competitive.
Within 2 years, all the tournaments stopped and now I can't play competitive Vintage at all, even if I still have all my card.