That's understandable from a scheduling standpoint, but it's still worth pointing out that a global championship competition is going to be missing a number of standard track and field events.
As fans, we'll need to decide how much weight we give this new competition when evaluating athletes' achievements. In the initial World Athletics press release in June, they billed it as "a groundbreaking new global championship event set to transform the athletics calendar and define which athlete is the best of the best – pitting world champions, Olympic champions, the Wanda Diamond League winners and the year’s best performing athletes against each other, to crown the ultimate champion."
With its name and that description, the "Ultimate Championship" is being presented as the preeminent athletics competition, above all others (it will even be held in Olympic years, after the Olympics). I'm not buying that. I wouldn't consider it to be more prestigious than the Olympics or world championships.
When talking about athletes' career achievements, we often combine Olympic medals and world championship medals together into one category as "global championship medals." Will we lump medals from this competition in with those? Considering the condensed schedule, lack of heats, reduced number of events, and smaller number of participants in each event, this competition seems more akin to a Diamond League Final than the Olympics and world championships.