@smceccarelli They are probably speaking about US awards because of their experience, but I've also heard of the Hans Christian Andersen Award which is the highest international Children's book award, and the Kate Greenaway Medal. I'm sure there must be other regional and international awards. I found this link which lists some: https://natlib.govt.nz/blog/posts/international-children-s-book-awards
I'd imagine that such awards would allow a similar 'result', so to speak, as the Caldecott. Jake, Will, and Lee probably haven't mentioned those because they don't have the proper experience with those awards, but they do exist.
Brett Helquist and Lisbeth Zwerger are two well known, prolific, talented illustrators and to the best of my knowledge neither have won the Caldecott. Zwerger cannot as she is Austrian, but she has won the Hans Christian Anderson award in 1990. Helquist worked on a series that has prestige as great as the Caldecott in my opinion. And there are loads of other examples. You can't predict whether a project is gonna be a best seller or if it'll win a Caldecott, but I think there are other avenues than just the US award.