The Premiership and Championship are 'global leagues' with a global audience and a global 'player supermarket'.
I personally prefer the 'old days' of bringing on your own players from youth development. It helps with a club's identity and helps fans identify with players.
This can be applied to other British sports, such as ice hockey, rugby and cricket.
We also have seen the changing shape of our high streets and local shopping areas. There used to be a natural emphasis on local produce with local shop owners. Cafe's and tea rooms would usually be locally owned.
Now in our desperate need for immediacy, throwaway society, 'anything from anywhere', often cheap and cheerful and allegedly corrupt multi national and national corporatisation, society (and that includes sports) is reaping what it has sown.
I have boycotted Tesco for the last 20 years, buy local where ever possible, never ever use Starbucks, etc. and only use independents.
Football, sports and society has changed radically over the last 5 to 20 years and not necessarily for the better.
The cat's out of the bag and is highly unlikely to revert back to the 'good old days' any time soon.
At Premier and top end Championship level, teams have to buy the best available to them and as others have mentioned, managers are judged in the relatively short term.