Has it helped Reading or Sunderland? Ten years ago they were your classic yo-yo teams ruining competition and hoarding resources - now they're nowhere. Good, I say.
The growing influence of billionaires on football is commensurate with their growing influence on society as a whole. I'm not sure if there was ever a time when the fortunes of football clubs didn't depend on (comparatively) super-wealthy owners to bankroll the operation. It's up to the authorities to make sure the rules allow for proper competition - I agree it's trending in the wrong direction, but I don't think the game's completely gone down the tubes just yet.