I'm not sure about that. #1 would still be the winner.
Looking more into this, I can see how it might bring about a different outcome sometimes. But if you take an election like we have today, I still don't see how Trump wouldn't come out ahead.
When I used to compete in a little singing thing, if it was just one vote, then who ever brought the most people to support them, would always win. (very small venue, with like 30 audience members)
But the one competition that did the ranked choice, it was usually the best artist.