Yeah, you're right. Seven games in 3 days would be too much. Letting only the group winners advance would knock it down to six games. At least this gives every team a legitimate shot.
Under what I think may be the current format (somebody in the know....jump in here please), you would have four groups of eight teams. Everyone plays three games within their group with the highest point totaler advancing. Problem is that each team will not play four teams within their own group meaning the winner could advance out as a result of the luck of the draw (dodging heavyweights). Good news is the teams meeting in the final will only have to play five games in three days.