Looked at the team list of the Council Bluff Classic. 28 teams. Wife from Iowa and traveled a lot in Iowa. Teams in the tournament are not the Iowa power houses. Looks like a lot of mid to smaller 4A or even 321A Kansas teams. Doubt if it was a "hammer" tournament, probably not as good as the Eudora TOC, certainly not any better!
Prestige does not necessarily come with travel distance. Actually, individual wrestler and team prestige is a lot better when earned in front of your fellow students, team members, local opponents and fans.
6 teams had to back out of the Council Bluff Classic. I think that this is also the first year for the Council Bluffs Classic. Lance Benick is the number 1 ranked 195# in the country and his team traveled there from Minnesota. That's what these big tournaments that you claim are "only in it for the money and not for the spirit of high school sports" are trying to do. They want to bring in tough competition from all over the nation to see who the best in the country is. The Walsh Ironman, which is sponsored by Walsh-Jesuit High School is doing just that. Flowrestling does a great job to promote those types of tournament to get a bigger fan base for the sport. Then you will see more students in the stands at your duals.
Eudora TOC was missing some of its tougher teams as well. Tongie had to back out because of weather. Chanute left Eudora to go to Perry. I know Holton used to go to Eudora as well but cannot remember the last time they were there. Point is teams travel to different tournaments to see different competition. Some wrestlers have higher goals than just being a State Champ. Some of them want to wrestle at the college level and the best way to get out of state college coaches attention is too travel to some of these out of state tournaments.
As far as your prestige comment goes. Try telling that to teams like Blair Academy or Oak Park-Riverforest, or individuals like Aaron Pico.