SEN might not deserve it in terms of team performance, but the viewership speaks volumes. They're the most popular NA team not called OpTic after all, and they were one of the most viewed teams in VCT despite not qualifying for anything.
Plus, on a slightly brighter side for SEN, them making franchising would allow them to pick up some good players from the teams that didn't make it if said teams decide to release those good players. It would give SEN a chance to rebuild so they can at least try to get back to the form they were in before. But we'll see if that happens. I do think it's a coinflip whether they'll actually rebuild the team or whether they'll continue to make dubious choices for money and impressions.