Don't know much about tier 2 but does their lose mean they have lost a chance at ascension?
The NA challengers send two teams to ascension
One of them is through winning stage 3
The other one is through VCL points
Each stage gives points depending on the standings
Stage 1 gives a maximum amount of 65, Stage 2 gives max 75, and Stage 3 80 points
Envy ended up 5-6th so they get 40 points
They are not out of reach yet
For detailed info check out liquipedia
https://liquipedia.net/valorant/VCL/2025/North_America/Circuit_Points