I think you guys are forgetting what happened in 94/95. We essentially said ‘fuck you’ to the league and went all in the cup winners cup and we were a fluke goal from half way line away from winning the whole damn thing. We finished 12th in the league that season FYI.
Even in 2005/2006 we prioritised winning the CL (eg Henry was rested v Spurs at home before Villarreal) over getting top 4.
This year we are clearly not good enough to compete on both hence we got to choose the one we have better chances of succeeding in.
We still got a better chance of winning EL than qualifying for Europe via the league imo. We are third favourites behind Utd/Milan and Spurs for EL. Can we beat Utd/Milan and Spurs in one off games? Yes. Can this very inconsistent team put a run together in the league? Most likely not hence winning EL is our best shot. Plus would you rather play CL next year or EL? The former is the bigger prize so we should give more attention to winning EL which gives us CL.
Even under Emery circa 2 years ago we prioritised EL (look at the team v Palace) and it got us to the final. Ultimately we didn’t win but it was a risk worth taking.