Yes and no, obviously there's a downside concerning the amount of home grown talent, but the upside is I got to see Cantona, Bergkamp, Henry, Zola, Aguero etc apply their trade in their prime in this country. The influx of foreign players has gone too far though and I see that being rectified over the next ten years or so. Another reason being is that English players are just so much more expensive, for whatever reason.
The Europa League Winners should get Champions League qualification, at least make it worth something, and it would also give every club in every country a shot at Champions League.