Actually, the main issue hasn't been addressed and likely never will be. The main issue isn't us spending 10 times as much as Brighton or Crystal Palace, the issue is us having 10 times as much to spend in the first place. The massively unequal distribution of money in football is the root cause of all of these problems in every league in Europe, but there's absolutely no desire to deal with that, so we end up with these sticking plasters that make it look like we're doing something while making sure that the big clubs can indefinitely maintain their position.
La Liga have had 3 winners in 20 years at this point. The Bundesliga has had the same team win over half of the titles ever, and yet half of those wins have been since the turn of the century. Football has become less and less competitive and the direction of travel has been entirely one-way. We've got another new competition exclusively for the top clubs next year. What effect will that have on domestic competitions when €2.5bn are distributed to only the best teams (and Chelsea)? They're handing more and more money to the top clubs and then we're telling them they can't spend it. They could have given each club a modest fee and prize money and then distributed the rest of the money through the pyramid, but none of the top clubs would have taken the competition seriously, because greed rules the roost.