I've heard this many times over the years and don't quite buy it.
I think the reason that the cheeks buy up the pick of the rest is because they are very visible to them, they know they can do the SPL and they know other clubs can't compete financially.
They don't have to pay for scouting or outbid english teams.
There might be a benefit of weakening other clubs but the reason they do it is to save money and minimise risk.
It is still hypocritical to take the lions share of the money then complain about a lack of competition hampering European success. To give bluecunts some credit, they haven't come out with this much recently. That's progres.