Except that it also places a severe drain on your following season, as opposed to being a bone thrown to the not-quite-good-enoughs for the current season.
IIRC it used to be that nobody cared about the Euro tournaments. If you were an English team, you probably wanted to win The FA Cup, even more than the League, and Europe was more of a novelty.
Now it’s all about Europe, and the good clubs pretty much now blow off the FA Cup, and care more about being Top Four than necessarily winning the League.