Football is almost entirely dominated by money now. PSG have won 7 out of the last 8 Ligue 1 title and around half the cups. Bayern have won 8 consecutive Bundesliga titles and around half the cups. Juventus have won 9 consecutive Serie A titles and around half the cups. Real Madrid and Barcelona have won 14 out of the last 15 league titles; Barcelona have won 5 out of the last 7 cups and played 6 of the 7 finals.
The Premier League is only superficially different. Manchester City are on course to win 3 of the last 4 PL titles. The clubs selected for the ESL have won 36 out of the last 40 FA and EFL cups. The only clubs to 'break through' in the last two decades are Manchester City and Chelsea, who did it through external funding. Leicester, the fairytale story, have never been able to finish in the top 4 or win a cup since. They are the public policy equivalent of dealing with inequality by giving homeless people free lottery tickets.
The last winners of the Champions League all belonged to the clubs with most trophies (Real Madrid, Bayern, Barcelona, Liverpool). Teams in the ESL or invited to it were part of every single CL final in the last decade. Since the Europa League rules were changed to allow the winner to participate in the Champions League, the winner has always been a club that participates in the Champions League with some regularity: Sevilla, Manchester United, Atletico Madrid, and Chelsea.
The current football system has all but eliminated real competition. There is an illusion of competition, a cheer at a minnow eliminating a big club, like Porto knocking out Juventus, that is inevitably followed by the minnow's underwhelming elimination by a richer club. If you are a mid-table club, your aspirations have been reduced to having the opportunity to win a single cup title in a decade, maybe. Or you can pray to God that you'll be the next Leicester, get to put on that glass slipper for a season, and then go back to the empty middle.
Bayern Munich have fired their manager mid-season twice in the last years. It did not stop them from winning the league and qualifying for the CL. Juventus were relegated and lost many of their players. Within five years they began a nine-year period of domination of the Serie A. Inter and Milan had very quiet decades due to financial troubles and mismanagement; nobody else was able to step into their shoes and actually win Serie A titles or get to CL finals or do much of anything. Now that Juventus is showing weakness, they are finally going to relinquish the title... to Inter. We see time and time again that the vacuum that money leaves cannot be filled with grit and hard work; when another club comes in and fills the vacuum with money, they take over much more easily.
Besides all that, the current disparity between the PL and the rest of the leagues is completely unsustainable. Clubs like Tottenham, Manchester United, and Chelsea struggle to qualify to the Champions League every season because the competition is so fierce. Meanwhile, the last placed team in most other top leagues isn't actually very good and can't usually do much of anything in the top competition, and the first placed team doesn't have to do anything but the absolute bare minimum to qualify. They'd all be insane to let this continue.
This isn't to say I am pro-ESL. It's to say we are in the ESL. The ESL is the 4th of July party, we are Jack Torrance right in the middle of the picture.