Technically I believe it's 1 person on PS4 and 1 on XB1 for the first event (UFC 198) --- then 1 person on PS4 and 1 on XB1 for second event (UFC 199) --- so you will have to be top 1 on PS4 on one of those events
So it's gonna be tough lol but I'm really glad it's not simply 'who can get most wins' during the period; the fact your high score stops going up once you hit 3 losses is great.
If this event wasn't added to this patch, my response to update would be 'meh --- not bad, nothing huge' --- this live events is really cool though. But yea, there are still some very simple fixes that need to be made....the impenetrable block while standing is one example...hopefully more fixes are in the pipeline, it just takes awhile to get to live