this list takes into account prestige, prize pool, and quality. anything else is Mickey Mouse
You are giving way too much importance to EWC, most teams treat the qualifiers as a "if we go, we go" situation where they are basically already planning their trials and scrims in the case they do not qualify. There is only a small handful of teams that cares thoroughly about EWC, which is usually the teams that did not qualify to Masters and are looking for something to celebrate while not planning on roster changes. (See: FNC, M8, KC etc).
EWC should be below both Masters, ask any player if they would rather win a Masters or EWC, which really is only relevant because of the size of the prize pool. There is simply way too much shady and outright proven wrong about their events for it to be above an official Major.
Discord