Nail on head.
At this point we'd probably be better off **** off the top teams to a so called Super League. Problem is, that would most likely kill the Premier League and other top domestic competitions completely as TV money, fan interest and everything else gets re-routed to that new shiny thing instead.
After all, that will be where all the cool teams are that kids love. It's a really sad state of affairs, and there really isn't much competition to be had any longer.
If one top club fails to reach the CL, they'll still be able to spend amounts the rest of us could only dream about, and all the top players care about is the CL.
No-one is really interested in joining a 'project' since players are run by PR-agencies, and they are as much a brand as they are a person, and the brand will suffer if they join a club outside the top tier.
I keep saying that the only thing that could level the playing field is the coming financial disaster and the possibility of it forcing big money investors out of special interest things such as football.
Otherwise, the problem will just keep getting more and more pronounced, and football will become even less dynamic. I think the most dynamic aspect coming in the next few years is Newcastle replacing Arsenal or Spurs at the absolute top.