an absolute BS concept.

Not that I would expect the FA to have one ounce of common sense or business acumen. However, even a cretin would understand the concept that you can't just go off and play in other leagues. Real simple, if you join this league you forfeit your membership in the EPL or any other FA league.

it's an all or nothing deal.

it is interesting that with all of the hysteria of brexit and the EU that any UK team would even think in playing a league that requires free trade and travel. Something that won't occur if I understand brexit.