Spinners did most of the damage for the Strikers, who skittled the visitors for just 99 in 16.5 overs in Saturday's dead rubber at Adelaide Oval.
Tabraiz Shamsi (4-15), Lloyd Pope (2-23) and Wadia (2-11) all took multiple wickets.
Only Renegades captain Will Sutherland provided any significant resistance, hitting a personal season-best 38 off 28 deliveries.
But the skipper couldn't prevent the Renegades being bowled out for less than 100 for the seventh time in franchise history.
"The batting was not up to standard - not professional standard - that's all you can say," Australian cricket great Mark Waugh said in Kayo Sports' commentary.
"All those batsmen who got out today will be very disappointed with their shots.
"Maybe there was some good deception with the wrist spinners, but not good enough with the bat, the Renegades."
The Strikers made light work of the run-chase, reaching 2-100 with 49 balls to spare.
Captain Matt Short top-scored with 30 off 22, including the only six of a controlled batting display, and Chris Lynn (27no off 25) was there at the end.
Neither side qualified for the finals, with the Strikers (4-6) sixth and Renegades (3-7) seventh on the eight-team ladder.
Sent in to bat, the Renegades were reduced to 3-26 in a disastrous powerplay - their worst of the season.
Wadia would have had three wickets in the first over if Hasan Ali hadn't dropped a sitter catch at mid-off.
Wadia soon showed his teammate how to do it, taking a brilliant catch diving forward in the deep to dismiss Mohammad Rizwan (17 off 14).
The Renegades were 5-51 and heading for a dismal total when Sutherland arrived at the crease.
He whacked three sixes and two fours before falling victim to Shamsi, who cleaned up the tail with the last four wickets of the innings.
"It was a total team effort and the guys that bowled before me made the job very easy for me," South African import Shamsi told Kayo Sports.
"As a bowling unit, you want to try and restrict the batters down to as low a total as possible.
"If we're batting first, I always want my batters to give me 300 runs to defend.
"So yeah, I was happy that as a bowling unit we were able to keep them down to a low total, and the guys knocked it off nicely."Â
