GTO, or Game Theory Optimal, play in tournaments is limited by its inherent inability to account for the dynamic nature of tournament structures, varying player skill levels, and the crucial impact of Independent Chip Model (ICM). GTO strategies are primarily designed for heads-up or cash game scenarios with static stack sizes, not the ever-changing stack depths and prize pool implications of tournaments. It also struggles to adapt to exploitative play against opponents who deviate significantly from GTO, and doesn't factor in the psychological aspects of live play, which can greatly influence decision-making.