Riot has more than a few years' worth of running franchised leagues. Spanning from North America to the Pacific regions, they've managed to coordinate with their regional offices to maintain the competitiveness and the interest of each league. Were their decisions always perfect? No. I have a few gripes, but as far as I'm concerned, it wasn't as catastrophic.
But with OWL? The entire idea of a city-based league were doomed to begin with. It's not that it wasn't viable — it was too damn risky to run its original plan of a offline home/away game on every city base. They've managed, sure, but goddamn their business decision were the catalyst in the state they are in right now. They also flubbed their handling over their Tier 2 and lower competitions at the start.
I implore you to visit this website: https://valorantesports.com/vct-teams
It explains the criteria Riot had laid out for the partnership teams. Competitiveness isn't everything and not the endgame. Does this mean your favourite team has the chance to implode? Yes. But when one door close, another open.