The sacrament isn't effected because of the defect of intention manifest by not using the Church's form for the consecration of the wine, which in turn invalidates the consecration of the bread. Of course, the sacrament isn't effected if the priest, or matter, aren't valid in the first place, even if the correct form were to be used.
Note, both Davies and Lefebvre etc. were heretics and the sedevacantist position is the correct one at this time.
Pope Eugene IV, Council of Florence, Sess. 8, Nov. 22, 1439: "All these sacraments are made up of three elements: namely, things as the matter, words as the form, and the person of the minister who confers the sacrament with the intention of doing what the Church does. If any of these is lacking, the sacrament is not effected..."
https://www.papalencyclicals.net/councils/ecum17.htm
Pope St. Pius X, Ex quo, Denzinger 2147, Dec. 26, 1910: “… it is well known that to the Church there belongs no right whatsoever to innovate anything touching on the substance of the sacraments…”
Michael Davies, The Order of Melchisedech: “... every prayer in the traditional rite [of Ordination] which stated specifically the essential role of a priest as a man ordained to offer propitiatory sacrifice for the living and dead has been removed [from the New Rite of antipope Paul VI]. In most cases these were the precise prayers removed by the Protestant reformers, or if not precisely the same there are clear parallels... there is not one mandatory prayer in the new rite of ordination itself which makes clear that the essence of the Catholic priesthood is the conferral of the powers to offer the sacrifice of the Mass and to absolve men of their sins, and that the sacrament imparts a character which differentiates a priest not simply in degree but in essence from a layman... There is not a word in it that is incompatible with Protestant belief...
It must also be stressed that the Bishop's “charge”, from which the passage from the Catholic rite has been taken, is only an option and that in the introduction to the I.C.E.L. version of the new rite stress is laid upon the fact that it is only an optional “model”…”
Council of Trent
https://www.papalencyclicals.net/councils/trent.htm
Pope St. Pius V, Quo primum (Promulgating the Tridentine Liturgy) - July 14, 1570
https://www.papalencyclicals.net/pius05/p5quopri.htm
Pope Leo XIII, Apostolicae Curae (On the Nullity of Anglican Orders) - September 15, 1896
https://www.papalencyclicals.net/leo13/l13curae.htm
Pope Pius XII, Sacramentum Ordinis (On the Sacrament of Order) - November 30, 1947
https://www.papalencyclicals.net/pius12/p12sacrao.htm
Pope Pius XII, Mediator Dei (On the Sacred Liturgy) - November 20, 1947
https://www.papalencyclicals.net/pius12/p12media.htm
Michael Davies, The Order of Melchisedech, 1993
https://archive.org/details/TheOrderOfMelchisedechADDaviesMichael4338
Source:
https://www.youtube.com/watch?v=9bmiAex-FFQ
