The first column is the initial draw. The order of the players is the same for every single match throughout the tournament. If player A is above player B in the initial draw then if they meet player A will be first and player B second.
It's halfway through a Masters and a ATP 500. I think it's appropriate. Not everyone is eligible to participate, so it only makes sense to limit the gain. You also cannot defend the points. And it's not really that prestigious. It's coveted yes, prestigious - not really.