NAVI's midlaner Volodymyr "No[o]ne" Minenko shared his opinion on Last Chance participants prior to the conclusion of regional qualifiers for The International 2022. He thinks every opponent can be dealt with, and there's no team that can be considered an undisputed favorite. Volodymyr discussed that with Russian streamer Nix on his third-party broadcast.
I disagree that Xtreme are the favorites of Last Chance. I think they can be easily beaten, judging by the qualifiers. Who is the favorite of Last Chance? It's hard to say right now. Everyone has their problems. Teams like Team Secret and Liquid have issues, 100%. Outsiders are beatable too. I won't deny that they are strong, but I wouldn't call them a top-tier team.
Sadly, since NAVI and Xtreme ended up in different groups at Last Chance qualifier, we might not see if No[o]ne can back up his words with actions. He will play Team Secret, Vici Gaming, nouns, Polaris Esports, and Tempest. Still, since no teams will leave the competition after groups, there is a real chance NAVI and Xtreme will meet in playoffs.
The Last Chance phase will be running on October 8-12. Twelve runner-ups from 2nd and 3rd places of Regional Qualifiers will compete for two spots at the main event. The format is similar to TI: two groups with bo2 matches with no knockouts and a double elimination bracket afterward.