What would competitive Pokemon battling realistically be like?

So I guess the best way to think about this is to compare it to other sports. Would it be like boxing and instead of different weight classes, it'll be different battle formats and then it'll be belts for the champions that people try to retain? Perhaps like tennis, where you qualify and there are regular tournaments and can be doubles/tag tournaments too. Would it be like F1 and there are multiple individual participants but are under the same team/sponsor kind of thing in a league or tournament? (I don't follow f1 so I might have butchered that)

Would it be possible for battling to be implemented as a league format somehow?

Would it be pretty close to what the anime has already? Regular national tournaments being the Pokemon Leagues and a World tournament where everyone even gym leaders, elite 4 and champions can partake too.

What would the best, interesting or realistic way that competitive Pokemon battling will be held if Pokemon was real.