Suggestion : Matchmaking.
Why wouldn't you just make this simple stuff, possible very game changing and adding a new layer of strategy to the game.
So it goes that way.
Top 1 would always face Top 2. Top 3 -> top 4. Well maybe make it a 3 way.
Rank 1 -> 2,3 etc...
Etc...
So what's the catch? well if rank 1 faces rank 2, and one of them gotta lose. it almost certain, that either rank 2 or rank 1 would drop position. also that means you would always know who the opponent is, and maybe sometimes, falling to the buttom place would actually give you advantage (more then pick an item).
i would at least suggest, maybe Add every X rounds. around where this rule actually applies. so lets say you get random enemy each turn. but on the 3rd one. it 100% the rank above or below you.
the only draw back, that i can actually think of. is 1. AFK's would fuck up games. 2. sometimes you swap a strategy or the build comepletly, and that might just give you this chance to kill everyone who was ranked above you instantly.
Also iam saying it just because it sometimes feel, and it really does happen rarely that as rank 8 you face the 7th guy. and it really does happen a lot. that 2 people have 5-8 game winstreak even tho? what are the chances? it means they never face each other, yet the have the strongest builds there. and in the same time, you have that one AFK dude or just really weak opponenet. you wish he was against you, but well he never does.
also, when 2 people are low health, maybe making them drop one another would be much better solution, then facing them against top guy, Again sure it does happen that you just changed you'r build at 10 hp, and now you have 8 game winstreak or even won. but It is rare. ( 1/10 games )