I totally agree. To me in a way FFP made that situation even more durable because the have won't be caught by the have not anytime soon.The lack of competitiveness is not due to external investment in football, you can see this simply by looking at the league's that have not experienced external investment.
Portugal - 2 teams winning in the last 16 years
Germany - 1 teams winning the last 6 years straight
Scotland - 1 team winning the last 7 years straight
Norway - 1 teams winning the last 4 years straight
Denmark - 2 teams winning 9 of the last 10 titles
Spain - 2 teams winning 13 of the last 14 titles
Serbia - 2 teams winning the last 20 titles
Greece - 1 teams winning 12 of the last 14 titles
Ukraine - 2 teams winning the last 26 titles
Switzerland - 2 teams winning the last 9 titles
The reason for the lack of competition is three fold.
Firstly Champions League revenue is only being given to the team(s) who qualify. This causes a huge disparity between those who qualify and those who don't which creates a small league within a league. In countries with only 1-2 CL places this obviously exacerbates the issue. If you wanted great competition the CL revenue should be split between the entire league with the 20th club receiving no less than two-thirds the revenue of the league winners - this % would be set Europe wide.
Secondly clubs can negotiate their own commercial revenues. That means than Bayern Munich (17/18) for example have a €349m commercial revenue compared with Dortmund at €138m and Schalke at €106m. This puts them on a different stratosphere meaning that only ridiculous complacency and under-investment would lead to Bayern not walking the league every year. If you wanted great competition commercial revenue should be negotiated as the current TV deals are negotiated - country by country. Again the clubs who bring the least revenue to the league would receive no less than two-thirds the revenue of the greatest - this % would be set Europe wide.
Finally the distribution of domestic TV revenue should be set in terms of a % Europe wide. Again I'd suggest all league's harmonised with the Premier League in that the bottom team should receive two-thirds of the winning team.
If the current system in terms of CL revenue, commercial revenue and TV revenue isn't changed then in truth the only way to make the aforementioned league's competitive again is through external investment. Just like Chelsea/City have prevented United from winning almost every title these last 15 years, a £500m investment in Schalke and would do likewise for competition in Germany. It's a shame RBL don't have greater funds or a greater appetite to invest in truth.