He is right, of course. The three City deals were refused under the 2021 rules, so the only change to a new assessment as a result of the arbitration is procedural, the club seeing the benchmarking and being able to comment on it before the PL makes its decision. The question is whether the PL feels strong enough to refuse it again after the new rules, whatever they are, are in place, whenever they are.
And the headline of the article, of course, was nonsense. None of this opens up the possibility of huge deals. It opens up the possibility for sponsors to pay over what appears now to be "market" value to other sponsors providing it's justifiable and not a complete piss-take. Worth noting there has never been a sponsorship that has been a piss-take.