The concept of international competitions is about winning championships, but Never about Best on Best.
You are going to have TONS of "Power House vs 3rd-tier Team" matches. That's what it is, same for all the sports in the world.
I'll just watch the NHL , NBA etc for the Best on Best competitions.
The concept of international competitions is that you are proud to wear your country's uniform and compete fair and square, even you are going to lose 0-15 three straight games at the first round.
Having a tournament that heavily favors two specific countries could be nice for the entertainment value, but the concept is not the same as Oylmpics or what a World Cup tournament should be.