Well if you want to go back to the days of all the rich clubs buying all the good players, you can always start up your own competition.
As Randomness pointed out we would go back to the days when the rich clubs got all the top players. At one time, Manly had a reserve grade side that was made up of first grade and Kangaroos. No salary cap would see the game degenerate into what is the EPL with three to four teams being the regular top 4 with Man U winning 13 times in the past 20 years with Arsenal amd Chelsea each winning three premierships. League has enough problems at the moment without the game being in the hands of a few clubs.