From trying this out, 'list' means the top ten - so one in the ten gets a drop from captains, and all ten top damagers on a beacon?
The list isn't capped. If 100 people make the list for the captain, 100 of those people will have a shot at getting the random drop and 100 people will get one from the beacon.
It's also important to remember that "top attacker" is a bit of a misnomer, and just what we have ended up calling it out of habit. Your position on the "top attacker" list is the result of three factors including: damage dealt, damage received, and damage healed.