Is there any point to these games other than getting a good isolated spawn and hope no one is right next to you? I'm not a fan of these type of games because it seems like the only determining factor of winning is getting a good starting spot. Is this true in your opinion?

Yes or you need a miracle or a very bad/unlucky opponent.

In an ideal ffa, the weaker nations should join up to take down the stronger ones

+1 for francisco vile
a game doesnt always have to be perfectly balanced, it can be unbalanced and you can just try to see what you can make out of it, and in a FFA (with good players) the players should (re)balance the game

Some games are not meant to be played to win. Several games I merely play for fun with a near 100% chance to lose. In a huge FFA where the first player you encounter feels like bashing into you, you lose. In a huge FFA where your combined truces are significantly weaker than the main opponent's combined truces, you lose. It's not something you can do a whole lot about. Warlight is not really meant to be won through strategy alone. You'll need luck as well.

Not that I disagree that luck can and will play a part, but I would suggest that if you really think that someone attacking you early is game over, that you rethink your strategy and especially your tactics.