It's changing really as more leagues and teams go professional. Lyon went through a period of absolute dominance in France, pulling a lot of the best players towards the club. But PSG (with money!) and Montpelier (who seemed to lose players to Lyon) are challenging that now.
Spanish clubs usually have a club up there somewhere - Barcelona currently, it used to be Athletic. Germany as well, Wolfsburg, maybe Bayern. Sweden and Denmark have successful club sides as well.
The UEFA coefficients tell their own story though.
https://www.uefa.com/MultimediaFiles/Download/competitions/Draws/02/47/78/71/2477871_DOWNLOAD.pdf
City and Chelsea are on the rise. City, in particular, came out of nowhere to become a big team and are serious contenders this year.
In honesty that's probably the shape of things to come. The shift from amateur to semi-pro to fulltime pro that's underway will create more good teams at the top, but squeeze out some smaller clubs.
For us, I like the principle expressed by Woodward in United's statement that we expect to base the team on our youth structure. I'm sure we will make detours from that, I wouldn't be surprised if our starting team next year includes some recruits who are WSL1 discards for example, players we take for experience and admittedly because we need the numbers.
At any rate I'm not expecting to see us buy half the England team and become contenders in Europe or England overnight. The club might only be saying those things to reduce expectations and keep the budget under control, but that's OK as well.