When the dust settles, it'll be interesting what remains the main issue people had with this, and what could have been done differently to garner a different response.
Obviously, those behind it completely messed up from a PR stand-point and went rogue in their announcement - they needed to get major news networks/broadcasters on side from the off.
Had there not been a rigid, glass ceiling for those looking up/glass floor in terms of how far the "elite" clubs could fall, that may have been another thing that would have lead to people being more receptive. Although I expect this was the crux of the issue. The big clubs wanted to create a footballing paradigm that would have seen them requiring to put in minimal effort/expenses in order to be guaranteed a seat at the top of world football.
These owners know the world they bought into is changing fast, and they've probably missed the boat in regards to seeing the optimal return on their investments. If the Glazers could, they would go back to 2017 and sell up.