It's just not feasible.
Let's be brutally honest, IF they were to succeed with a European Super League, then they're asking (from a UK perspective) Sky or BT to stump up even more money than what they'd get from Champions League, and a way to increase the revenue for the domestic league (on the basis that they'll continue in both).
What's the appeal? I know as a City fan, you've looked from the outside for the majority of recent time, before the last decade, so it's a fair reflection on your behalf, but what is the appeal? The lure of drawing a Barca/Real/Bayern must be amazing, and then getting to see your team play there, and win and progress must be things dreams are made of, but what excitement is there, if it's just a League game? And they know that.
As a person who doesn't subscribe to any of the channels, due to the prices anyway, why would anyone outside of the chosen few pay for subscriptions? I don't do it for the Champions League, so why am I doing it for a league we'll never be part of.
COVID has had lots of negatives, but there are some things we'll take away from it, and it could be the return of a fair balance in football, and I'm excited for that.