Yeah it was a big blow (especially for us) but there were other elements too. Entertainment value is a major part of why the other leagues went ahead, and with FIFA continually adjusting rules to punish the 'defensive/cynical' approach... I doubt Juve would've done anything special in Europe with the 'Capello' style.
Prandelli was being humble too. He showed that Italy can play more expressive/flair and get results with lesser talent. The league should follow suit. That's why I hope Fiorentina get 3rd and coaches like Mazzarri/Allegri just f-off.
Style of play doesn't matter and the rules haven't certainly changed in the last 7 years. Italy and it's clubs always played like this and were still successful. The fact is losing a club like Juventus hit the league commercially. Number of viewers dropped, sponsors payments followed that trend, good players started to leave. If you compare Juve, Milan and Inter now and 7 years ago you can see the difference in quality. We know how Juve looked like but here is Milan: Dida, Cafu, Nesta, Maldini, Jankulovski, Pirlo, Gatusso, Seedorf, Kaka, Scheva, Inzaghi. Amazing team. Look at them now or Inter as a matter of a fact. Prior to 2006 there were rumours of Ronaldinho joining Milan, CR and Gerard Juve and now? Why is that? League lost it's appeal and money with it. Juve recorded around 220m revenues in 2006 and seven years after it's 214m while RM from 240m jumped to 500m. Barcelona were behind us and now they are close to Madrid. In a crucial period of market globalization and Internet expansion Juve were struggling to get back while the others took their chance.
The point is Italian league was always cynical but it didn't prevent Serie A to be the most popular in 90ies and early 2000. There were plenty of quality players back then. With that comes popularity as kids enjoy watching star players and buying their jerseys, while sponsors cough up more money to be part of it.
Apart from Calciopolli I would also point out inability of clubs to build their stadiums as the other factor of decline. Italian legislative procedure is rather complicated in this part and requires enormous patience to get a building permit. We started procedure in the late 90ies.