is there anything you could have done to win?
Probably not. At least not outright. I averaged about 40 AP per period, if I had really gone all in and spent 80 a period I probably would have bumped the bottom guy, maybe bottom 2 down to moderate. But they might have put in more effort then as well.
In a 4-way you had a 65% chance of losing, is this a "right" way to view this scenario?
Yup. That's mathematically accurate.