You may not like it, but the idea of franchising is that teams with financial stability and clout get in. Because of this however, I can soooooo see riot replacing some other org for bleed just due to how much money they have. The franchising system is due to a normal league system being unstable as if too many financially unstable teams get into tier 1, tier1 could just implode as esports isn't as lucrative as a sport like football that will stand many years after valorant dies. They have tried to make things more competitive by adding ascension so teams can be in tier 1 for 2 years, this is so tier 1 doesn't just become washed