Pretty well thought out asset of the situation. Lots I agree with. Practicalities will mostly dictate an NAOC in summer vacation, which mostly makes it a poor selection race unfortunately.
I agree with everything you've said David. An additional issue is that any summer event where elite participation is important is going to be incredibly hard to schedule. Our elites want to spend many weeks in Europe. It's hard to argue that they should do that since that's where they'll get the most and best training and racing experience.
I'm not really going to get into elite scheduling, since it's not really up to me.
But, I don't like COW as an acronym. It's just too silly. BAOC had a California Orienteering Week a year or two ago, and they really leaned into the bovine puns, and it annoyed the hell out of me!
(This coming from the guy who used then-current texting/web slang for my 2012 Junior Nationals event name.)