Not enough space left in the calendar to accommodate this micky mouse competition, European football is about the best teams in Europe playing each other not mid table clashes.
It doesn't take up any more time in the calendar, it would run parallel to Europa/CL.
Also why are people pretending European football is about the best vs. the best when the 4th, 5th, 6th sometimes 7th best sides from top countries are in European competitions already?