Yes and I agree but like I said before, it's the future. Sport purely as entertainment, with the element of real competition largely absent.
Ollie asked a few posts above why this proposed league is different from the Champions League it seeks to replace. Well its precisely because of it being a closed shop. Closed in terms of the teams who are guaranteed to be in it no matter how they perform, and closed by being self-fulfilling - namely the founding clubs will get ever richer at the expense of those left out in the cold.
But its only the natural progresssion of the direction the game, and all sports, have been travelling in for a while. You don't invest - as a disinterested financial institution like JP Morgan - in a league subject to the vagaries of promotion and relegation - ie competition. You invest in a product - like Netflix or Konami - that has inherent stability and can be directed by your algorithms. You then manipulate your market - ie fan base - until you are, literally, the only game in town. These people do not want large numbers of teams, and owners with access to their market, they want wealth to be concentrated in the hands of the privileged few.
Sport in the sense that we still see it, it ain't.