[adanthar]

Of course they're +EV. Any tournament with dead money is +EV to even an average player, and there's plenty of dead money to be found in those.

They're just nowhere near as +EV as any other similar stakes sat format that pays more people.

edit: to reconcile this with what I said earlier, what I actually mean is that, when you play these, you have an edge over some guy just plopping down 175, but at the second table, you will, on average, be a dog. The result is that you are +EV overall but with very wild swings at the second table and probably not much to show for it.