I agree that change is needed, but not sure a system which adds to inequality will help. Since the Championship was formed - just 16 seasons ago, 63 clubs have played in the top two divisions - that's a lot of turnover considering the league has never been so unequal.
I fully support the redistribution of TV money and it MUST come with much stricter finance rules - the clubs going bust have more money than they ever had, but it's the inequality between divisions and the over committing to try for promotion that is the problem.