Agreed on all points. Pay for performance, not just to show up. I'm not saying appearance fees shouldn't exist but they should be a smaller piece of the pie and prize money should be a larger piece of the pie.
As well, I know each race is its own entity and one race may not have the deep pockets and revenue sources another has but I think there definitely should be a floor on the WMM events. If you want to be a world major, pay like a world major.
Also, I've heard it stated and I strongly agree that the amount of money going to the athletes, in whatever form, should be more publicly accessible. Most people have no idea how much money an athlete is making because all they hear is prize money, which is a small part of an athlete's overall income. It makes it sound like running/T&F is a small money sport. Of course, runners aren't getting 20 million a year like athletes in some other sports but I think people would be surprised how much money there is in running if they heard about more than just prize money. Maybe that would attract a few more elites to the sport. If you're a good athlete and have to choose between, say, sprinting and becoming a football wide receiver or middle distance running and soccer, how do you choose if you love both? If your whole family is poor and you figure your athleticism is a way to support your whole family, you might choose football or soccer because of the million dollar paydays. If the athlete knew there was a good amount of money in track and that the risk of a career ending injury was lower, maybe that would affect their decision making.