Just been thinking about this whilst having a spot of lunch. If in an alternative universe we had a cup competition played by Commonwealth teams. Obviously it will never happen with time and funding being an issue.
One benefit for me would be giving England a chance to win something in my lifetime. Most of the Commonwealth teams are way down the FIFA rankings but are areas that are desperately trying to raise the profile of the game. Namely Asia and Africa and also Oceania and some Caribbean Islands.
Sadly the old British colonies of Asia are really all at the foot of FIFA rankings. This is the Top 30 or so Commonwealth with FIFA rankings:
England - 13
Ghana - 24
Scotland - 33
Nigeria - 36
Cameroon - 51
Wales - 56
Australia - 59
South Africa - 61
Rep of Ireland - 67
Zambia - 72
Sierra Leone - 74
Trinidad and Tobago - 78
Jamaica -82
Uganda - 86
Northern Ireland - 90
New Zealand - 91
Botswana - 98
Zimbabwe - 106
Antigua and Barbuda - 109
Canada - 114
Kenya - 117
Mozambique - 120
Malawi - 121
Tanzania -124
Namibia - 126
Cyprus - 127
Rwanda - 128
Grenada - 130
Gambia - 134
Malta - 136
This is what a group comp could look like with the bolded out being the 4 top seeds, basically the top 16 go through. Luckily NZ has just squeezed into the top 16 and if we can beat Wales and Trinidad and Tobago we could go through with Scotland as favs. Then who knows???
England
South Africa
Zambia
Jamaica
Ghana
Australia
Sierra Leone
Northern Island
Scotland
Wales
Trinidad and Tobago
New Zealand
Nigeria
Cameroon
Rep of Ireland
Uganda

"Phoenix till they lose"