Parmandur
Book-Friend, he/him
Traveling has a deal of limits on it.Travelling is definitely not like teleportation circle that can only take you to specified locations. It's way more like 7th-level teleport. And then the dream walkers have something akin to 9th-level astral projection. Now, channeling doesn't do everything D&D does, but of what it can do, channelers--or at least those that are the beneficiary of the lost techniques from past ages--do 7-9th level effects that would fit in various schools in D&D.
The Dreamwalkers can enter the World of Dreams at low level, including those without any Channeling whatsoever. That's an entirely different system.
Point is, Wheel of Time is not and example of Tier 3 or 4 D&D shenanigans. I am not sure what even is in fiction, D&D gets weird gonzo.