I don't think Americans understand the cultural impact of football clubs in the UK.
Most of these clubs have been around for over a century and there are families who have been supporting and attending matches for generations. They're a part of local identity, whether or not they also happen to be multi million/ billion pound businesses.
US sports might have their exceptions but this is the standard of football in Britain. Sports franchises in American aren't even fixed to one geographical location. One day you're supporting the Seattle Supersonics, the next they've jumped 2000 miles down the road to Oklahoma.
I'm not even targeting American sports, I'm a big NBA fan, but I do think that there's a fundamental cultural aspect of football that the supporters across the pond don't understand because you simply can't until you've lived it.
Football isn't always fair. It's not been fair to us in the past and it's, quite frankly, not been fair on the teams at the bottom end of the table for decades. But a big part of it is about overcoming odds, falling and getting back up again. Promotion and relegation are ingrained in my brain as a Manchester City supporter.
In American supports, leagues/ conferences are often a closed loop where the lowest teams are rewarded for being shit in order to maintain the "parity" you talk about.
That's not the way it works, as far as I'm concerned. The pyramid is a far more engaging system, in no small part because of the brutality.