Originally Posted by silentstriker
It matters in the same way it matters whether you are playing in a ODI World Cup or ODI Champions Trophy. Big difference in terms of the prestige.
Well World Championships is just another name for a World Cup really and it basically is the Twenty20 equivalent of the ODI World Cup, even tho this isn't officially called a World Cup. ICC are just confusing the issue with their branding.
Like I said earlier I think the reason for calling it something else was negative association on the 'World Cup' name in cricket if this event failed (or to possibly differentiate it generally speaking). But anyway don't worry it.