Short term will be bad for teams like arsenal , tottenham , leicester who were hoping of getting into top 4 one day LOL. That dream seems to be out the window for them and they will have to start dealing with being mid table teams with the goal of playing in Europa League.
Long term a new rival for us , Chelsea , Pool and Manure, also the big clubs in Europe once Newcastle gets to roam free with their new 1b squad in the Champions league (will take years to get there though).
The moral aspect of it all i'm not even going to mention as it is futile.
Would be fun to see Newcastle drop Manure out of top 4 , however.