EMEA, so far EMEA has been the strongest and more competitive region more consistently.
I think people have started to forget this due to Champions. Before that NA was pretty much 1 team region with OpTic carrying them and the gap between them and rest of NA was noticable especially on international tournaments. Also we don't know how these teams are going to perform next year. You can stack good players together but that doesn't mean anything if they can't make the team work. This goes for teams like Sentinels and C9 especially. Also LOUD split and even though I think they are still going to be good they won't be same as the Champions LOUD. Leviatan is already good and will likely get better, but I think its still hard to predict that can they keep up. Outside of 100T, NRG, SEN, C9, LOUD and LEV I don't see other American teams worth mentioning. But who knows.
Pacific was just DRX, PRX and Zeta pretty much. Rest of the teams were always pretty mediocre and even though they have some potentially good teams I doubt they will reach same heights as these for some time at least. Maybe Talon, GenG, T1 can do something but doubt they will do that well.
While EMEA has the big 3 teams aka NaVi, Fnatic and TL that in my opinion are some of the best teams on paper and these teams or players have shown that they can be some of the best. Ofc same as with NA teams we don't know will they work as team, but historically EMEA teams have performed better and there isn't as many inconsistencies as NA. And then you have KOI, VIT and GIA with some good players and potential. And overall I'm just basing this on previous events. EMEA teams let it be Liquid during Iceland 22, Guild during Copenhagen, G2 during Berlin 21, Fnatic during Champions 21 always do well despite people underrating them and expecting worse levels. The competition in EMEA has always just been so high that even the slightly weaker ones would have been decently competitive in international tourneys or in other regions.
Just my opinion and it isnt based on straight facts but more like prediction and historic evidence. Also based on cultural differences and history in other esports. Americas is likely more stacked on paper for now, but I still think EMEA will produce higher levels on more consistent sense. EMEA = Americas > Pacific.