National bragging rights are best done informally (e.g., Canadian schools noting themselves as best Canadian finishers in Detroit...)If you'll excuse me playing devil's advocate with my choice of examples, I think its about as appropriate as "best all-white team", "best all-male team" or "best all-christian team"!
The concept of a formal trophy is rather silly, though, especially for established competitions like FSAE-A or F-Student.
It may make a bit more sense in the early days of FSAE-Japan, where local competition is likely to get shut out for a while. That said, as seen with FSAE-A, it doesn't take all that long for good local teams to rise to top-tier international contenders.
Congrats to Toronto! Always great to see my hometown teams do well, and Toronto's always been a great group, especially with their efforts at organizing the fall shootout.
They've always been one of my favourites for bringing the SAE Foundation Cup north for the first time. (Well, the best odds are my just going down and stealing it, but that's not particularly sportsmanlike, and probably illegal.)