Under the current plans, Liverpool would play a Manchester based team once a month; minimum. Glamour ties are glamour ties, because they rarely happen. Liverpool have played AC Milan twice. Soon, one of these super clubs will become the equivalent of Everton, one West Brom, one Burnley etc. They can't all be good all the time.
Kick them out, spread the money more evenly across the pyramid and if they want to come crawling back, they'll have to do it the hard way.