TV money has not imo been a boon to even the Prem clubs but it has made life very difficult for the EFL. The money has had an inflationary impact on wages and fees and many clubs have the same quality of player they had years ago but now have to pay them a great deal more. The adverse effect is that no club can afford to be relegated so over two-thirds of Prem clubs start of with the sole aim of staying up. They won't risk adventurous play and they won't risk a determined effort in the Cups. The losers are the fans of these clubs.
It is very surprising that only 3 clubs have suffered instant relegation from the Championship since 1990 - a very interesting fact.