For same reason as OP I agree that franchising definitely is good, at least viewer-wise and for some clarity in how things work overall. But it just hurts me to see all of the Tier 2 leagues in all regions struggle just to look barely alive. And it's not just a franchising issue, if you kind of follow Val since its esports start, you'll know that everything was horrible even pre-franchising.
It's just about the realisation that we can't just juggle the same players all around between teams in T1, some of them will go and retire or have some issues or you name it. And that's why we need T2 circuits, for new players to realise themselves and to just get reps in, get some reference material for orgs, but there's no way it can be self-funded. The money needs to come from somewhere and the game as an esport also needs to stay attractive for players and orgs.