Weight distribution doesn't matter for the pillar, sure. but it matters for material resistance. A tube performs much better than a beam for both for bending and shear stresses( the most dangerous ones in such a project), therefore you can use less materials and make it lighter. the only problem might be instability of the "skin", but we have plenty of experience avoiding that thanks to aircrafts. In fact, it would even be easier, since loads always act in the same way. external pressure, plus compression in the top when the train is on the track.
( Note once again that this is a valid point only if competitors are elevated too. a ground track doesn't need to concern itself with carrying the train.)
As far as the train punching through the tube when air cushion fails... I don't see that happening. it isn't going to levitate that high, and speed doesn't really matter for fall damage. There are fairly large safety limits in civil engineering. if it can stand the train moving, it can stand it falling a few centimeters.
Now, friction when the cushion fails would be a much bigger problem. But I guess some wheels might allow a safe, if not entirely comfortable, stop.
I would be more concerned about it derailing and punching through the sides. But that stuff doesn't tend to happen, as long as drivers don't step out of speed limits. ( which sadly they sometimes do. See for example the recent derailing in spain.)
Aerodynamic pressure on the front might pose some problems, but depending on how it is designed, it may not be significantly worse than those of aircrafts. But on this point I really can't say anything. Besides, it is the kind of thing that can't be properly estimated before building a prototype.