Again, objective facts:
1. More people play the sport -> more competition -> higher level
2. The sport is more lucrative than ever -> more competition on all levels (players, coaches, support staff, etc) -> higher level
3. Improvements in sports medical science -> overall improvements in speed, stamina, strength, less players have to retire due to injuries, increased longetivity -> higher level
4. Improvement in sports data science -> players make better informed decisions, coaches make better informed decision, more effective talent identification -> higher level
That's the increase, I don't want to write an essay about it, but if you think long enough, you can double or triple this list with things that have improved compared to 20 or 70 years ago. So objectively the level has improved.
The data aspect of it might have cost something when it comes to entertainment. The money aspect might have cost a lot when it comes to the image of the sport, so obviously there's a lot not to like about it and I get sentiments such as "football was better in the xx'ies", meaning football was more entertaining or footballers and club owners were more likable. However I see no reasons to think that the competitiveness and the general level of the sport itself is lower than in the 90ties. Why the fuck would it be? It's like thinking formula 1 cars of the 50ties could run laps around the modern cars, of course they couldn't.