I reckon the sanctions will come in, we just have to be patient and not expect miracles.
The megarich clubs will always be able to smuggle in extra spending under these rules, but the main thing is that they won't have a completely free hand as they have for the last decade. That will make a big difference to us.
Longer term, though, you'd think that any club with a decent revenue base, that can always spend up to the line because of deep-pocketed backers, will grow to a size where it can comfortably compete with us while still complying with FFP.