Rigorously studying videos and thinking about the game (I only think about smash when I'm actually playing the game) aren't necessary for improving in my experience, and you can avoid wasting money on low turnout tournaments by just not going. Improve whichever way works for you, basically. Obviously if you asked someone like Kevin or Armada what their process is like it's going to resemble what you posted. But I know plenty of other good players who don't spend anywhere near that amount of time at getting better... they just play the game. I had a problem with devoting so much time to smash in the past but I changed that and realized it's just not necessary for me.
l.m.f.a.o.
We need more tournaments at legitimate venues in convenient (i.e. close enough to everyone so the turnout is good) areas ran by good TOs. I can't stress the importance of a "good" TO enough.. it's something I've been trying to advocate in NC for years. The way our state runs 95% of tournaments since I started playing is half-***. And if you want to make noise I think we need more videos coming from tournaments/smashfests.
But anyway I want to start seriously playing more again, so hit me up UNCG people, Dr PePé and Chris, etc.