I don't know what ideas with Copa America including participants teams from other region are invited...
Eh!... the America's Cup includes the American continent, right?
Now it is true that the first editions only included the teams from South America, where the real soccer was, right?
Well, actually, being organized by CONMEBOL, which corresponds to South America, is the reason, perhaps they exaggerated with the name.
Anyway, now each edition looks more like a true America's Cup, including more countries, so it is the complete opposite of what you mention, little information or even remembering primary school.
Well, what is worth saying, in 2016 it turned 100 years old, being the event organized for the oldest soccer teams.
The favorites! : Brazil and Argentina are always there, although it is true that Argentina is the last winner, They hadn't won it since 1993, which tells you how difficult it is to win an American Cup, even having Messi, unlike Brazil who since that same date has won it five times.
https://es.wikipedia.org/wiki/Copa_América
https://es.wikipedia.org/wiki/Copa_Libertadores_de_América