Nah it's not.
Literally most of the big names in the EPL were bought out last two decades (since 2003). Even nothing teams like Man City and now Newcastle.
Also, SkySports do pay ridiculously amount. You cannot convince me that the EPL was a better product when Abramovic bought Chelsea. In fact, the EPL was relatively poor at the time, and the English national team is laughably poor in international competitions.
- - - Updated - - -
It's the oil money that made the EPL great.
1. Man City - oil
2. Newcastle - Oil
3. Chelsea - oil
Am I missing something?