For both Fleet and Squad Arenas, we know how competitive it is to break into the top ranks. Particularly in my old shard, I know there are hundreds of players squabbling above me that will never break through, in part due to the lower rewards that their weaker squads earn them in Arena, GW, etc.
My proposition is a two-tier Arena system, equivalent to a Winner's Bracket and Loser's Bracket, with the weaker half separated from the stronger half of players. The weaker half has its own #1, 2, 3 and so on ranks with better rewards than being at the bottom of the barrel in the reward system we have right now. The weaker tier rewards for the top 1, 2, 3 and so on would not be as good as the Winner's Bracket obviously, but substantial enough that it is an actual reward and worth competing for. That way, more players can both advance at a higher rate and compete for worthy rewards with other players of similar power.
Players who rank poorly in the first tier should not get worse rewards than they currently earn, and players who rank poorly in the 2nd tier should also not get worse rewards than they currently earn.