Yes again, but financial success is not supposed to be the only criterion to judge the pyramid by, nor is looking at the Championship in isolation.
Smaller clubs are having a torrid time: Bury, Rochdale to name but two local to us. Further back, Brighton were only rescued from winding up by outside intervention, Luton too. Doncaster and others were taken over by criminals. Are Charlton still struggling?
On the other hand, as you say, Gov regulators do not have a great record so how to implement the improvements clearly needed?