If that was true, NBA wouldn't be such a big deal every year, since there are no promotions/demotions system. They are choosing clubs for worldwide fan count, and Arsenal has millions more than Sevilla.
Besides, the asian and american markets reacted very well to this news. For them, loosing a few european viewers won't make that much of an impact when compared to the number of new viewers they will get. TV contracts will rain down hard, a matter of time.
The passion is on our side, the fans side. But those who manage clubs are businessman and will do what they have to do to make more money. This is something the big clubs were trying to do since the late 80s, we know the day would come. Maybe it will be not this year, but I think it will happen sooner or later.