I think it's harsh to blame the players. The clubs are (almost literally) throwing cash at them. The cap on spending should come way down - clubs shouldn't be able to spend more than £xm on their wage bill, and for me, the x should be unrelated to revenue - hence stopping the big staying big for ever, and reintroducing some competition and challenge. Who can get the best out of their squad etc.
I'd like to blame it all on fergie and his crew - for years their aim was to throw cash at the best player from their rivals, leading to a spending arms race. There are probably others who deserve some of the share too though, although they'll always be the biggest culprits in my eyes.