In terms of competitiveness, I would say no. But Rito needs those passionate Japanese fans and that money from them, so they have no choice but to keep those 2 teams in franchising.
The numbers can fluctuate. Teams like fennel will get you around 20k . Murash at 40-60k and riddle at around 40k ( cmiiw). Regardless, if we count apac as a whole jp has a huge proportion.
Now I have a hard time counting on my head because I always missed twitch or youtube side of things ๐
Mb don't trust my numbers , but I can guarantee you it's huge. The point is some team has clout while others don't ๐
China has a massive population and insane viewership. In terms of population, that ratio to those other countries seems about right for a country of well over a billion people with a large esports scene (India has a similarly big population but lower viewership/revenue).
According to this article from 2022, China's total esports revenue is greater than the rest of Asia combined; from that perspective, China having its own league makes perfect sense; there's enough of a market to support it, and it worked for League with the LPL.
Also, Korea has 3 teams (DRX, GENG, T1).