With regards to clubs operating according to FFP rules, take a look outside the Premier League at Barcelona. They’re over one billion pounds in debt, and yet are still running. How?
It’s always been about the elite clubs, and it always will be. The only way to break the hegemony is to find yourself a mega rich benefactor. That used to mean a wealthy local businessman, like Jack Walker at Blackburn. Then it was a wealthy foreign businessman or investment group like Abramovich at Chelsea, or Fenway at Liverpool, or King Power at Leicester, and now it’s a wealthy country with money to burn and a track record of appalling human rights abuse, like Man City, Newcastle, PSG etc.
There is no way a club like ours can compete fairly on this extremely biased system. The best we can hope for is survival, middling along happy to avoid relegation, like Everton seem to do every season, and perhaps a brief flirtation with the top half of the table. And if or when we do go down then the elite clubs will have replacement cannon fodder to replace us.