EPL's greatest success has been commercial. Just look at the Australian rights where Optus was losing tens of millions a year and now pays Stan $40 million a year to stream it. I doubt they are the only ones that overpaid too.
EPL is definitely underachieving considering how much money they are investing in these teams. It's not just that they are losing, but many of these knockout ties haven't really been close.
Also funny how the narrative on PSG has switched. For years people used to say they can't win the CL...