When the richest, most powerful and commercially successful league in the world appears to be so, inexplicably, hell-bent on self-destruction, I think it's worth, at least, considering the possibility that, far from being incompetence, it's actually a deliberate act of sabotage from within.
After all, if we, and Martin Samuel, could see the utter shambles that would Inevitably result, why couldn't the architects of the whole disaster.
If we consider who would benefit from the collapse of the PL, who would love to see the PL implode, the answer has to be La Liga, Serie A and the Bundesliga. So we're talking, primarily, the most powerful clubs in those leagues Madrid, Barca, Athletico the Milan clubs, Juventus, Bayern and Dortmund. Essentially, those leagues' representatives in the old G14. Apart from the German clubs, that's, also, essentially, the clubs refusing to give up on the ESL. But the ESL is nothing without the most powerful English clubs to carry it through and structure of the PL and, specifically the voting structure of the PL, means that Arsenal, united, liverpool and Spurs could be out-voted or, worse, in theory, voted out. We've recently seen what some media sources, most notably, Sky, describe as a "rebellion" where some clubs had the audacity to vote against the "associated party" rule changes. In short, there are signs that the other clubs are beginning to flex their muscles. So, change the voting rights. Liverpool and united were frustrated in their attempts to do just that in Project Big Picture where, in association with Rick Parry, their PL puppet, Richard Masters', equivalent in the EFL, they attempted to tie increased payments to the EFL to increased voting rights for 9 certain clubs including, oddly, City, Everton, West Ham and Southampton. The kicker being that the way it was structured was that only 6 clubs were required to carry any proposal., one of which, incidentally, was the power to veto new owners, So Arsenal, united, liverpool, spurs and chelsea only needed one other vote to do as they pleased. That plan was frustrated by the other clubs in the PL.
All that presents a real problem for the 4 PL clubs most determined to join the ESL. That is, unless the Premier League is brought to heel and ceases to be the commercial force that it has been and would continue to be, unless it somehow contrived to self-destruct. And at that point, the white knights would ride in to save the day. Only with certain pre-conditions......
Fanciful ? Possibly, but I'm not so sure.