It's just "Elo", not "ELO" - it's not an acronym, but rather named after the guy who created it. Dropping Elo after winning an event isn't really that 'wonky'

It's just "Elo", not "ELO" - it's not an acronym, but rather named after the guy who created it. Dropping Elo after winning an event isn't really that 'wonky' - it's just a Bayesian update for underperforming your statistical expectations. The same thing happened when Carlsen won the Candidates in 2013, he went +5=7-2, but he was 2872 rating against a field of 2774, so 8.5/14 would mean he loses ~6 rating.