Foureyes00_00 This sounds like a really fun idea. Just a few criticisms though. If the invisibility potion still shows the balloons, then what's the point of having the potion? Sure, it's more difficult to find you, but people literally have this Google maps ahh marker just telling everyone your exact coordinates.
Speaking of the balloons, I think the lives feature is also a bit strange. It makes the mode less of Last Stand and more like final destination. And either way, it would be quite annoying to literally only be able to be knocked out three times before dying the fourth. The knockout is a replacement for dying, and is the game telling you that there is still a chance if you can get back up. If the number of those chances is limited, it removes the motivation from getting back up. When a player loses three balloons, I can very easily see them just giving up, because all it will take is one dropkick, heavy punch or headbutt to permanently kill them, and those moves are not difficult to perform.
It literally just looks like a way to punish people for not being as skilled at the game. Plus, it also rewards players for camping and makes most weapons a pain to deal with. You've also said that this would work because PA is unforgiving. This is just not true. Missions and custom games with ai don't exist purely for fun, but to train the players for when they come to fight each other. And that's not even mentioning that the knockout feature is literally just the game giving you another chance instead of just killing you. If you lose a game, it offers multiple ways to improve, which is not unforgiving. True, the new elimination mechanic is easy to track, but it isn't fun to play. As mentioned before, it rewards camping and punishes new players, which is not fun.
You mentioned that players will find the person with the most balloons and target them, but they won't. They will target the players with the least balloons to try and remove some of the competition.
I compared this to final destination previously, but the reason final destination works is because you aren't given lives, you're given chances to win. If you and your team get killed 9 times, the game is still fun and you still have a fair chance to win. In your idea, the game would not be fun because all it takes is one person to camp your body with nunchucks or headbutt you from an edge for all of the joy and whimsy of the map to disappear.
Look, this is a good idea for a map, and creative too, but I believe the elimination system will drag both of those down. Thank you for taking the time to read this and I hope you take these into consideration.