Torres was at one point a very dominant fighter, now he's average. Second I wasn't aware that points were awarded in BJJ tournaments. I thought they just went until someone was submitted.
They are awarded, it varies depending on who is putting on the tournament, but points are awarded for passing the guard, dominate positions, take downs and sweeps. As well as advantages, which are basically tie breaking points, so if you end up tied, but you were working a triangle or a kimura that you didn't finish you are awarded an advantage by the referee and moved on in the tournament.
I can't remember point values off the top of my head, but I think it's something like three for passes/take downs and side control/north south and four for knee on belly, mount and taking the back. There is something in there worth two as well I believe.
Matches are allotted time limits depending on the skill level and the tournament. They couldn't just go until someone was submitted, it would be insane, tournaments would take weeks, and that is no exaggeration. I don't compete at an extremely high level and I've been in matches that would have gone for hours, until one of us couldn't lift their arms anymore.
And a note on Torres, he was once dominate because the pool at BW is about as deep as a toddler pool. It's easy to be BMOC when there is only a small handful of decent opponents. And Torres went untested for too long before Bowles put him to sleep, it ****s with a fighters head when you don't have to work for so long and then you're at the bottom of the barrel after one fight.