Each lottery is a separate thing. Once the icon one runs out of tickets, immediately a winner will be chosen and sent the item, and the other two lotteries will remain until the same thing happens. Depending on how it goes, more lotteries will be implemented after that.
And regarding your "all of the tc combined could buy it" statement. Well, yeah, its over 2kk in TC, but now you have a great chance to win it. If all of the money was pooled together than about a 150 people would share the item? That makes no sense.
So what crux said, you win by getting an almost 1 or 2/200 chance of winning an awesome item for a lot less the regular cost, and the msquad and TSAs win because it sinks tc.
NINJAD A MILLION TIMES
shouldnt go ingame while writing a post