I take your point DGP. I think my point which I probably didn't make very well is that the introduction of a play off system goes a long way to putting of benefactors who may invest in a Champ club. With automatic relegation and promotion there's a huge carrot for them in that there is a clear way to the Prem. Without that carrot they're basically being asked to pump money in just for the love of the club. It may seem at the moment that none are capable of stepping up but you don't have to look very far for an example of how things can develop as Exeter have shown that. I'm torn on the issue as I can see the potential benefits of ringfencing but I really do feel for the Championship clubs who I think, quite frankly, are being shafted.
I have looked at the stats from the last 21 years, since Premiership was a 12 team league with 1 up 1 down.
To me it shows that a playoff is the only credible alternative to ring fencing, since all the clubs that were in the league in 2000-2001 are in it next season, apart from Rotherham, with the addition of Exeter and Worcester.
Only 3 clubs apart from the current 13 have been in the Premiership.
Rotherham got promoted again in 2002-03 but were relegated for good the next season. They are now in National League 2N.
Leeds took Rotherham's place in 2001-02, would have swapped with them the following season but were saved as Rotherham's ground didn't pass RFU inspection, so lasted 5 seasons until relegated, then promoted and relegated again in successive seasons. They played 2 more seasons in the Premiership until relegated for good in 2011. They are now in National League 1.
London Welsh were promoted after threatening legal action in 2012, were never competitive and relegated after 1 season. They were promoted the next season then relegated the season after in 2015. They are now an amateur team in London Division.
Of the other relegated teams: Quins, Saints, Falcons (twice), London Irish (twice), Worcester (twice) and Sarries were all promoted the season following relegation.
The only exception is Bristol, who were relegated for 2 seasons in 2002-03, came back for 4, relegated for 7 years, then yo-yo with London Irish for 2 seasons and finally staying in the Premiership since 2018 after getting taken over by billionaire Steve Lansdown.
If there had been a playoff between last place and championship winner I doubt whether the London Welsh vanity promotions would have happened as they weren't good enough.
So overall, there may have been little to choose between the bottom place of 12 and the top championship team over the years but obviously only Worcester and Exeter have broken through, incidentally around the same time as the demise of Rotherham and Leeds.
This season has shown that all teams, apart from Worcester have been competitive and the Warriors have not been far off in terms of points difference.
From the margin Sarries best Ealing, who are by far the strongest championship team left, I can't see any other team being good enough for the Premiership. If they do have ambition then they really need to show they can beat the last place team to earn promotion and ensure they could be competitive to avoid another London Welsh fiasco.