Perhaps king/prince of faction should be awarded solely through tournaments rather than based on the ladder league. At the 1800+ level it's just too funky because, if you take out the top 2 players, there's barely any games being played. Swkoll gets an award for always choosing UEF but SilentNoob gets nothing because he mixed up the factions. Those tournaments don't seem like they would be very difficult to set up and there's a built-in prize (avatar) even if FAF can't find a cash prize.
It would make more sense to give out "prince" awards on the ladder league for specific ladder maps rather than for factions (e.g., a win is 2 points and a loss is -1, but only counted map-by-map). That would be a way to give out a bunch of avatars. As long as you can calculate the winners just by ladder league statistics, it shouldn't be too much work. With 15 maps in the pool, that would be 15 total winners. The award would be especially meaningful i think. (It wouldn't mean anything to the 1800+ crew, who can't get enough ladder matches and already have other avatars, but I think it would mean a lot to someone in the 1300+ bracket). And, for the same reasons, giving out 12 similar awards to the 800+ bracket would be meaningful to the people who get them. It would also mean everyone in the top 20 of a ladder league would have a decent chance of picking up one "prince" award so there would be hope for everyone near the top of the league that by winning more matches they could win something. It would reward skill on a specific map, which I think is often overlooked in favor of overall rating/total number of wins.