Very interesting idea. I think it is not that way at all though, if you think about it a different way.
The game will not allow you to get below 100 points, unless you're playing in a game.
So if we make a number of very conservative assumptions, we can show that this is not even close to true. :-)
First, we must count all points, including points people have currently wagered on games, since they still have the potential of winning these games.
Second, we will assume that each player not in the top 5% has exactly 100 points (The minimum allowed). This is obviously not true, but is a very conservative assumption.
So, the bottom 95%, or 15793 players (I'm using your numbers, and assuming they're right) have 100 points each. This means they have 1,579,300 points. For this to be 5% of the total points, there would have to be (1579300/.05) 31,586,000 points total, meaning the top 5% have ( (31586000-1579300)/831) just over 36,000 points per person. We can obviously see that this isn't true, since the highest point player on here is on or around 11,000 (Although this number does not include the games they are currently in, it is fairly obvious that the average would not reach 36,000).
On a side note, this would mean that each player had rolled over 18 times, as the total points/total players is 1900. Again, obviously not true.
Interesting math. No, I hadn't ever thought of this, but I'm glad you did. :-)