There never has been a showcase as you describe. Ever, as long as I have been a part of this forum.
Most writers who have multiple pieces of fiction usually have one commentary thread that has a general list of works, linked, for viewing. If anything, L&L is like real life. Eventually, writers in the Real World have novels that were great during an era, and then trickle down until they are relics. Real World.
Link your works in the first post of your commentary threads. Like a table of contents with links to comment threads and story threads. That way, they are always present, no matter what.
But what you are asking, in all likelihood, isn't going to happen. We have a master list of everyone's works, provided they have done their jobs and told us to list them. You have your own threads. Showcasing is yet another way to "set apart" the community. As you said, "prestigious" which is not the goal. No one is going to be elevated above anyone else for simply finishing their work.
Besides, ask any writer. You are never finished with a work. Even published authors talk about how they would love to go back through something published and make changes, edit this, or remove that. A work of writing is never done. There is always a moment of clarification, an edit you missed, a plot point that needs more detail. Every edit is an update and something that can be posted to boost your commentary thread back into the "limelight".