European football needs a crisper and simpler design with two divisions in my opinion.
Make the trajectories interesting by having clubs qualify from their leagues into the lower division, and if relegated from the lower division sitting out of Europe for at least a season or otherwise until they requalify.
Likewise have the top of the second division swap with the bottom of the first.
Might sound a bit like it promotes incumbency, but the mid season European relegation fights would make for enthralling conditions, and the penalty of a season's exclusion for relegated clubs would lead to unexpected challengers down the table entering and having the chance to prosper.
Ten matches played after which two thirds of the whole competition effectively proceeds to knockout is a joke.