I think they have pretty much devalued their own products
The setup of
European Cup (Champions Only)
UEFA Cup (2nd & 3rd)
Cup Winners Cup
was pretty much spot on for me
I always thought the UEFA cup was brilliant because quite regularly the teams finishing second and third were pushing for the title the following year so the level was good
now the top teams are in the CL and quite rightly are not dropped into the UEFA cup but there is a lack of quality in that cup now
Granted it’s great for teams who don’t normally get European competition but I feel the competition is definitely weaker for it.
CL should be League winners only - although it wouldn’t bother me if it was League and Cup Winners with runners up in the UEFA