Had not City gotten their ill-deserved money and caused turmoil amongst the "top four", it would have been much harder for a club like ours to qualify for the CL. When the previous top four was no longer guaranteed their spots and when players could get bigger paychecks elsewhere, it made the top four have to fight harder to retain and obtain players. They failed, one after the other, in this slightly more open market, which is part of the reason we are were we are at the moment.
Football is less of a cartel then it was pre influx of money for PSG and City. The old rich controlled everything then. They are still trying desperately to keep and increase their control (see FFP, see CL seedings, see the new club world cup format that is in the works). Previously they have also worked hard to increase their power and wealth, such as with new formats to European Cups, seedings to those tournaments, new format to national leagues, attempts to get more of the TV money distributed to the biggest clubs, etc.
Imflux of money to lesser clubs from rich investors evens the game out more, making it harder for the select few old elite clubs.
It has been great for the game.