Obviously I can't argue against that, and I guess I'm much better in pointing to the problem than actually offering a solution, but I do believe some alternatives should have been found. Of course, I'm only speaking retrospectively, it's easy to be Captain Obvious quarter a century later, when football has come down to just 20 or so big clubs.
I don't know, perhaps some sort of incentive should have been pushed on international level to limit number of transfers per club, or to force them to use bigger number of academy players. Something along those lines would perhaps make a more even playing field.
It's easy to dismiss weaker opponents coming from smaller leagues as unwatchable today, but it really wasn't that way back then. And in my opinion, UEFA (and FIFA) should have explored options to limit the power of certain clubs before they became money-making machines that they are now. It's a bit late for that now, and it's pretty much what has become their own undoing, because I don't see how UEFA would ever have chance to stand up to Real Madrid again for example.
The potential allies they might have had in weaker clubs all across the continent are so weak and meaningless, mostly because UEFA helped make them that way. And I'm speaking strictly from a small-club fan point of view, it really doesn't look to us like state owned clubs will destroy the football anything more than it has already been destroyed. I mean, to us it is pretty much the same.
What we have right now is some sort of Superleague, just not formalized and set in stone. If Manchester United played Sarajevo again, I know I'd cheer for Sarajevo. But it's almost guaranteed not to happen, so there is no problem in supporting both for me. Kind of like an NBA structure, with a group of huge clubs, and then the rest of us as some sort of feeder farms.
Sorry for responding with this big wall of text, I know you just asked a simple question, but I kind of couldn't contain myself. I may actually be completely wrong in my opinions, perhaps this would have happened regardless of UEFA and its money-grabbing schemes.