The points penalty was based on the commission's view that (a) the excess spending brought Everton an unfair advantage and (b) a financial penalty wasn't appropriate for a club with a wealthy owner. At first I thought a smaller points deduction was the appropriate penalty but I've changed my mind, thinking about it.
In 2022 and 2023, Everton would have been relegated with a 10-point deduction. Yet in 2021 they finished 10th, with 59 points and they were 12th the season before. Therefore you'd have to question what advantage this additional spending brought them? Clearly none, plus you'd have to look at teams like united and Chelsea, who have spent fortunes and can't get out of their group or even get into the CL/EL.
Point b was nonsensical, as I'm sure the majority of clubs have wealthy owners. The punishment should fit the crime.