You can see from my record that I haven't played in a lot of different worlds. However, I will recommend that the most balanced, competitive world I played in is the only one which had a hard and fast, no exceptions, graduated Minimum Win Requirement.
Now the fact is that I eventually left that world when my team aged out and my attempts to keep up with the MWR failed. It happened to many owners better than me. However. many of them returned to the league when a slot became available because they liked the gameplay.
My main takeaway from the experience is that the MWR has a cascade effect, not just discouraging tanking.
Because you can't just throw away/sleepwalk through a season, an owner has to be aware of where he stands with his ongoing MWR status - an extra level of engagement.
Because your team must be minimally competitive, most owners are engaged in Free Agency. It was the only world I was in where the entire FA market was tapped out. The knock on effects: 1/ Players actually got what they demanded. 2/ Owners spent to the cap, which cut out hoarding for IFAs. 3/ Owners had to work harder on budgeting because of this. 4/ No one team could walk away with a handful of Type As and rebuild on the fly, you were competing for almost every single Type A and B. 5/ Because of this competition an owner had to be more strategic with FA bids. Hold out for the big fish? Or sign the second best player while someone else was going after the number one?
That world was a completely different experience. But as I now always say, the key to enjoying the gameplay is to be in a world with like minded owners who will agree and adhere to the rules. Even in that world there were ongoing whiners who wanted something changed to benefit themselves alone.