You, as SBD is, are completely misreading my post and failing to understand so you aren't really 'unpacking' anything. Yes FFP should be scrapped as the framework itself is actually causing more problems than it solves and the vast majority, in the Championship especially, are increasingly bypassing the rules season after season making them utterly pointless. Surely if the same applied to tax on such a grand scale that the framework would be updated and evolved? Yes or no?
This is why another system needs to be established that works with clubs rather than against. Financial regulation will still be in place, however it will work with clubs rather than against them to allow each club to spend freely each within their own bespoke means. This is where the advancement in financial reporting and benchmarking tech is also needed in the game as does further collaboration with governing bodies is required. Checks and balances will still be in place as will financial control and spending will still be monitored, but in a more proactive way that allows issues to be identified quickly and will help those that are spending way beyond their means. It's a big part of the issue around why clubs continuously overspend as there's no real-time monitoring system in place.
Finances are only monitored once a year when the accounts are submitted and usually if there are glaring issues it's usually too late to do anything about it. The only thing governing bodies such as the EFL, as it's probably the best example to use, do is rather than do anything to help, just punish. How does that benefit their member? Yes punishments will still need to be in place but is points deductions really the answer? Why not a strict cap on spending for instance for a full year to help the club at least get back on track then put the club on a probationary period where they have to keep to a certain threshold for the year after? Points deductions solve absolutely nothing and is hugely detrimental to a clubs future - as has been proven many a time.
Arguing that governing bodies should get more funding from clubs is a laughable solution. Their members just won't agree to that.
Fair enough if you don't agree that FFP should be scrapped, but these ideas are openly being discussed within the game as we speak and many will probably be brought in within the next 3-5 years.