This is good news. A Champions League with the likes of Bayern, Porto, Ajax, Napoli, Dortmund, Marseille, Roma, Celtic, Rangers, Benfica, Valencia, Sevilla etc with proper competition and qualification requirements could be more attractive for many than watching the super dull, super greedy clubs playing the same teams over and over again all year for the next 20 years with little/no variation.
Hopefully FIFA/UEFA stick to their guns - if they do, this whole miscalculation could prove ruinous to the American owners of these clubs.
As for the players, yes the financial rewards will be significant, but I'd bet that there will be a significant number of top players who will want to play for the country in a World Cup/Euros/Copa America etc, who will turn their backs on this fiasco.