It'd be great, but yeah, it'll never happen. The established clubs (and I include us in that) will never give up their dominant position in the market for greater competition. There's too much money to be made. It'll be interesting to see what happens to football because even before FFP, all of the direction of travel has been in one direction, starting in the early 80s(?) when the big clubs refused to share their gate receipts with the visiting team, and basically every change made to football's finances since then. The only slight exception was when La Liga stopped allowing Barcelona and Real Madrid to take all of the TV money because they realized the damage it was doing to their league. There's a very real risk that football will end up destroying itself. The Champions League has basically destroyed a good number of national leagues, particularly in poorer leagues, because of the massive discrepancy in incomes for any club that regularly qualifies (which very quickly becomes a self-fulfilling cycle). Arguably us and Chelsea are the main reason the Premier League hasn't fallen into the same pattern as the Bundesliga, Serie A and to a lesser extent La Liga. That and the fact that the Premier League's TV deal is worth so much more than any other competition.
It's why I always laugh when people say that football is fixed, meaning that referees are being told to make particular decisions. It doesn't need to be fixed on the pitch. It was fixed off the pitch a long time ago, and it's not even a secret.