The phrase "wayed one sees it" is actually spelled as "way it one sees it." The reason for this spelling is due to a phenomenon called metathesis, where two sounds within a word switch places. In this case, the "y" sound in "way" moves to the end of the word, becoming the "i" sound in "it." The correct phonetic transcription of the phrase is /weɪ ɪt wʌn siz ɪt/.