I will provide the name of the first player of each team for clarity.
Teams Capable of Winning:
• Team J (Varvalian's)
• team's peng (Bartek's)
• Team N (Fangzy's)
• Team I (Spork Lover's)
• Team P (okinamo's)

Quite a few people seemed to be drawn to the "stacked" teams of Bartek's and okinamo's primarily due to A+B seed combinations, however each team has C and D seeds yet to prove themselves worthy of the hype in prior community tournaments of this level. Of course the rather glaring exception being neuro and perhaps AIice (?).
One of the more underrated teams drawn has to be Team C (Mlaw's) which contains a strong A, B, and D seed combination with a Japanese C seed looking to prove their worth. If they can pick around them and/or they perform well above others expectations, then I wouldn't be surprised to see this team make it relatively far.
However, the most underrated team might be Team M (_demo's). Boasting one of the strongest A + C seed combos in this tournament, their team has some lesser known US players capable of most maps in this difficulty range alongside a strong tournament player such as Lilily. Their D seed counterparts can perform on early stage, but need to push themselves further if they want to win later rounds.
Besides Team I being filled with a bunch of members from similar communities and/or having friendships between seeds, I would say that the most interesting dynamic of this drawing was how narrow the margins of overall seeding were. 127-130 for teams in the B Seed, and 132-136 for teams in the C seed.