Actually, that's not it. The announced format was a "Showcase Division, Elite Division and Tier II Division...with 40 total teams." The Showcase Division was supposed to be 8 teams that played each other every Sunday: BA, VJW, NH Avs, Yale Bulldogs, Rifles, Rats, Wizards, and the 95 Giants. It's on the website. Then you had the other BHL teams vying for the other two divisions.
Yale and the Rats looked at that field and said "No thanks," stole the idea, and joined with the NJ Avs and Mid-Fairfield to form the Beast Tournament Series, with special guest appearances by several other truly elite teams.
That left the Usual Suspect E9/BHL teams with their normal half season format. That's who is in the parity round next month. They might call it "Prep Cup" but that would just be rebranding it.