Gary Neville is fuming. I agree with the sentiment but isn't it a bit rich coming from sky sports reporters?
They're trying to build the same concept of the American leagues where there's no relegation. The playoffs are huge in this concept. You start with a group of teams then expand from there. It'll turn into a league with 30-40 teams and dilute the value of regional/country leagues.
I don't think it'll remove competitiveness but it'll definitely make the rich richer.