You are right that without competition it becomes a circus but I have been pondering how far millions of people who must technically be described as fans actually grasp that point.
What's popped back into my mind is my incredibly annoying experience in a little town in the west of Ireland back in 2014, when I had dashed over to visit a close relative who had suffered a brain aneurysm and so found myself forced to watch City's penultimate league match in that locality.
I initially opted for a pub very close to my hotel that had numerous TV screens and served a terrific pint of Beamish for a very reasonable price - mainly because my hotel had just one main bar but was featuring a show band playing throughout the match as it was being shown on a huge screen at the other end of the same long bar, meaning I would have no chance of hearing commentary.
I just about lasted through the first half in my chosen pub because it was entirely infested with Man Utd "fans" spouting endless anti-City rubbish, who clearly from their comments had not even the most basic grasp of team tactics and concluded that half by agreeing amongst themselves that the City team already way ahead in League goals scored, and about to set a goalscoring record for any EPL season, were useless in front of goal, unlike their beloved United.
What could I do? I went back to my hotel and subjected myself to potential long term hearing damage in order to watch the second half, without benefit of any audible commentary but without having to put up with the pig-ignorant comments of the cretins in the pub. Now, I am sure they weren't cretins about every aspect of life (and I am not being anti-Irish, being of Irish parentage myself) but the point is this: they were representative of millions - and I mean millions - of other "fans" of big-name clubs who have no direct connection of any description with "their" club, and often no football heritage, which means in turn no clue as to what constitutes good play or astute tactics. Such people, such millions of people, are the target audience for the ESL. So it does I believe have the potential to "succeed" if only in terms of attracting substantial audiences.