Guaranteed Payout Tournies- If it doesn't fill, should you play?

[Yo'Maha]

I am skeptical of guaranteed payout tournaments online if the buyin doesn't cover the payout?

Does anyone have any experience or thoughts on this? Do websites (any of them) actually pay out say, $3,500.00 in a guaranteed tournament if the buy-ins only generate $3,000? It doesn't seem profitable to be and seems fishy.

I'm hesitant to join these when I see low turnout.

Any thoughts? Suggestions? Input? Experiences of getting screwed? Conspiracy theories?