For real competitive matches like for tournaments or even esports.
The best would be to allow the game/match host to select the server (not just the region), then it shows the ping of everyone to that server to everyone.
Then both teams can decide to play there or try another server. They may not find an ideal server that works for both team equally but at least they can see and decide before they start the match.
On top of that there should be at least 2 spectate slots (one for each team) to record/stream matches.