This is what happens when people don't understand their customers.
It reminds me of when Warner Bros decided to make Batman vs Superman. The thinking was clearly: 'People like Batman, people like Superman. Lets put them together it'll make a lot of money!' Only it didn't make a lot of money because the fans of those characters didn't feel the film made much sense.
The people who own the top clubs don't like football. So they don't understand how European competition is seen as an affirmation of status because its earned. Its a nod to a club's status because you work to get your seat at the table, its not handed to you. Its the result of something, not a glorified friendly competition. This tournament will never rival the Champions League because it doesn't prove anything other than you had a big enough brand to get invited when it started.