Agree with everything he said.
Personally I'd rip up the entire first-class competition and replace the counties with a maximum of eight regional teams (North West, Yorkshire, Midlands, London and SE, South Coast, South West, Wales and Ireland).
Each of the teams would be run by the ECB. They'd choose the coaches, the squads and groundsmen. Each match would effectively be an audition for England places (similar to the 'Hick v Haddin' match the Aussies had recently).
As Bayliss says, the best players would come up against each other more often and the pitches would be curated to the ECB's specifications.
The counties might be kick up a fuss, but their competition isn't achieving anything at the moment. It's neither producing test players, attracting interest nor making money. They could keep the one-day tournaments (which actually make money), so their finances would actually improve without the burden of championship matches.