She's handled the Aes Sedai well and made the reasonable, if not best decision with what Pevara and Verin handed her on a platter (I still think the smarter would have been to tightly bind the Black sisters with Oaths and use them as a weapon - effectively damane, but ones that deserve it, not the innocent enslaved).

However the Seanchan weren't defeated. Capturing Elaida and gaining Travel they'd be doing dances of joy, even if every other raken/to'raken and their riders got hit by lighting and died on the way back. A great victory for the Seanchan that anyone thinking for a moment beyond, 'Woohoo, look at Egwene rock!!!' can see.

And her attitude to Rand stinks. She calls for the War of Law against Elaida, justifying it as in a fight you need one clear leader that people must fall in behind, yet Rand vs. the Dark One is infinitely more important, yet if Rand tries to pull a similar line on her, she'll spit chips and say Aes Sedai don't follow any man (though of course the real irony is Rand integrated with all of Lews Therin's memories after the end of the book is the only non-evil channeler with the true right to call themselves one).

Unless/Until Egwene realises Rand is the key, and she should advise him, but NOT try and guide him, the Shadow must still be rubbing their hands with glee, with the Forces of the Light run by committee.