I think, this is a pretty interesting topic. I can understand that fans would want City to be stripped off their titles. I personally think, it is a bit small minded though. Again, just my personal opinion - I think, it is wrong to get around the rules and they should be fined for it, maybe to a degree, that they have to re-pay sum of the amounts received for the win. Taking the titles away though is just weird, they won, because they were the best team in the league, how they got there, is not correct but also it isn't the players fault. I am totally up for it to improve the rules and to up punishments for breaking those rules and upping the available resources to force those rules but "going back in time" to take the titles away, I don't see that having any effect. They celebrated their titles already. They didn't go to the shop to buy the trophies. As painful as it is, Manchester City made a lot of good decisions in the last years (in football aspects of course) and I think, following the urge to now take it away isn't the right thing to do.
But again, I know, a bit controversial and additionally, 100% my personal standpoint with no claim of being the correct one or even a good one.