I think this is a very, very valid point and shows its problems.
Just a few years back Liverpool hadn't won much in years and couldn't get near the top 4. These 'fans' that view this will be fickle by nature, so if say Spurs keep finishing bottom then how long will it last?
It's worse than that though as there will only be one position of prestige, finishing second will mean nothing, it will be akin to finishing runner up in the Superbowl(who cares).
If therefore, there is no draft system, and one team becomes dominant, it will become sterile very quickly indeed.
I feel that, in the short term, this will go away amid all the widespread condemnation. The PL will then put on a brave front, and maybe even claim victory, but will surreptitiously buckle and hand more power to these leeches. This will repeat, until, eventually, they will have enough power, influence and money to do whatever they wish.
That's why it needs to be
stopped, not kicked under the carpet. The rest of football needs to unite, say enough is enough and call their bluff. Eject them from their respective leagues and start again with a new set of fair and wholesome protocols. Yes there would be an immediate financial hit, but, provided everyone stuck together and weathered the storm, the future could be bright.
Give in, however, and there is only one future and that is the end of football as we know it.