I'm from chile and been into esports for a long time amd the truth is that LATAM isn't built to win championships, we do not have the structure, the big boys organizations behind to build talent at lower levels, it is just by purely themselves, and it has always been that way.
Take a look at yesterday R7 vs Pain, the two imports being summit and keine played their hearts out and the three local players just absolutely shat themselves, in every esport (excluding solo games, like fighting games) LATAM always crumbles, it is just the way it is.
If you really want to win things, specially in valorant, you have to go international. It is sour, and I don't like it THAT much. But from a owners perspective, it is the best way to make some kind of ROI. (KRU is a exception because they shit money, Aguero + Messi but they still can't pass through groups every year.)