It puts a ceiling on what the very top clubs can do. If you're going to have all of the other rules then it makes sense from a sporting perspective, otherwise the gap between the top and bottom will grow forever. It being a 5x multiple is less helpful than if it were 4x or 4.5x, but that's just the power the top clubs have.
If it happened it would have a small indirect benefit for us in that it would put a ceiling on the likes of City. But it's still a very high limit and all of the other restrictions would still be there so it wouldn't change anything in terms of what we can/can't spend.
Irrationally annoyed that here in the US our game is the one on TV but they gave all of the attention including the teams walking out to the Merseyside Derby.
It's going to be awesome (not really) when we lose to Palace tomorrow and go from debating which European competition we want to be in to whether the manager is worthy of his job.