Problem with doing that is that the gap between successful and unsuccessful clubs will widen ad-infinitum. There has to be redistribution and because relegation as a risk threatens clubs unequally it really ain’t the one. That’s why many sports leagues close themselves off and run a draft system.
It’s been mentioned not once on this threat but rugby union in England (the Aviva prem) had been planning this (they’ve now done it for one year due to covid only which is different - but they’ve been debating closing the league off for ages, just never actually done it).
It’s easy for the fans to rule with their emotions but the people actually running the clubs, pouring over the data know the problems. These are not old debates, but they’re taboo on European football because we conflate big brands with community clubs, and think the two are interdependent. I remember chuckling to myself when I was queuing to get into the dortmund game in 2017 at the lads chanting about how they miss the proper footy at WHL (was Wembley) and thinking wow, ur in the champions league and you’ve been in the top flight for decades and you actually think you know proper community footy? Spurs is a behemoth, in community clubs hours from London (south west the nearest prem club I ever had was Southampton and that) people are delighted if they draw a prem club once a decade and talk about it for 30 years! They also don’t really care about results, you turn up just to see the boys. None of this coming on forums spitting your toys out. Hearing these arguments conflating community clubs and global brands as the same on hear is hilarious - you lot don’t know you’re born really ! The two are totally different and the business model is suffering by trying to equalise them.
In 30 years from now how many of the 12 are not still bossing the UCL? And how many new clubs currently not on their level will break in? I’m 32, and can remember the PL virtually right to the beginning, I see virtually no change in the entire period except City. And who’s dropped out? Arguably Leeds. Like what are we really going to see happen, that wouldn’t have happened if the ESL had gone ahead? Nothing, it’s wishful thinking by people who don’t realise they don’t have a clue what community clubs actually are. Spurs is a massive club, it’s a global brand, it ain’t argyle or Macclesfield and never has been - and those two clubs and ones like them have a 1% or less chance of being like us within the next 100-200 years in all honesty - how many have come close in the last 100? They’re distinct entities, one with community links and one with global draw - chucking them together and forcing them to play by the same rules is harming both just like chucking Duke into the NBA would harm both.