wrong level on TBM summoner ear?

Im just starting on a persona mage, heroic'd to 100. He comes with grandiose consigned summoner's earring. It has EM12 and results in a water pet at level 97. I had some raid currency left over so I went and bought him a soulcatcher earhoop from the raid vendor. This has EM 23 and results in a pet that is only level 95. wth? Can that still be an upgrade if it loses 2 levels? Is there any way to tell?

[36997] Enhanced Minion XXIII
Target: Single
Range: 100'
Resist: Beneficial, Blockable: Yes
Focusable: Yes
Casting: 0s
Duration: 3.3h+ (1950 ticks), Dispelable: Yes
1: Increase Pet Power (165)
2: Limit Max Level: 120 (lose 100% per level)
3: Limit Min Level: 101

The spell doesn't meet the focus limits.

The above explanation is correct of course, but the simplest way to tell in game is to use the /pet inventory check command. (or from the pet window) It outputs a list of your pet's equipment, when you equip a pet with a valid pet focus you'll see it has a back item of cloak of enhancement # on it, that refers to the level of the enhanced minion effect.

This is true, though it’s worth noting ToV and later pets (111+) come summoned with a lower tier Cloak of Enhancement even when not focused. Nowadays, unfocused pets are typically 1-2 focus ranks in strength below the lowest focus for a level range.

I keep seeing people saying the pet inventory, how do you use that? whenever i try to open it nothing happens. can someone explain this please.