All these games are far more competitive than cricket though - all the countries you have mentioned, there is not as big of a resources gap as there is between India versus West Indies and Sri Lanka who have won the World T20 during the time period IPL has been in place.
I agree no doubt that IPL is the best league in the world, I simply disagree that it is two or three times better - T20 cricket is often reduced to a circus show for pyjama kids no matter whether it is the World T20 or LPL. Just because you have the best circus performers does not mean they will always be as entertaining - sometimes the audience will not like the show.
T20 cricket is by nature a very luck and odds based game, it’s why Chennai for example going off of Dhoni’s pure intuition can go toe to toe with a data-driven Mumbai (not including this year).
In other words, the IPL might be the best league in the world, but it is just as comparable to the World T20 as BBL is comparable to IPL.
It's not - still T20I WC will rank higher, much higher; in fact not even a comparison.
Here, some of the Indians actually try to get under the skin of the the trolls, who often draw a parallel between PSL & IPL, but ask them individually outside PakPassion ..... I have many, many Indian friends, in fact mine & my wife's almost entire IT support team is Indian - not a single one following cricket, have put IPL franchise over Team India - I have people from Mumbai, Hyderabad, Chennai, Bangalore, Delhi, Chandigarh, Kolkata and Gujrat/Rajasthan.
BUT, when it comes to the comparison between IPL & T20I (International bilaterals), I'll always keep IPL MUCH, MUCH higher because of few reasons -
In IPL, there are 8 teams with almost equal strength. It's the better combination, better management/captaincy, form (or lack of it) for top players ...etc determines the seasonal standing. Even then, this year all 8 teams were active in play-off hunt till like 12th round - that tells how close the teams are.
In contrast, T20I is just like a pass time - to be honest, apart from PAK, hardly any team played/plays their available best XI in T20Is - PAK does it even for dead rubbers. Therefore, T20I are devalued in two fields - 1. most of the games are played with compromised squads 2. the quality gap of the teams are quite wide, you get lots, lots of soft games in T20I, which you'll hardly get in IPL, or any draft based system. For example, BPL's quality might be much lower, but within BPL, you don't get any soft game, unless it's fixed (quite a few are there, BPL for fixers is like Colombia to Cocaine...). In T20I, there are more mis-matches than contest, hence the ranking are often quite funny.
Then, when you play in WC, you know world is watching ..... I'm not sure how many watches bilateral T20s. But, people do watch PL & SLs. Last ICC T20 event took place almost 5 years back and next one a year awaiting - in between, hardly anyone will recall anything.