Potentially. .
Your example is a good one, and I don’t disagree. I also think the overall distribution of wealth in the game is a joke- particularly through the academies.
However on this partcular point I think it makes overall common sense. The decision isn’t just about the rare or very infrequent lost income for league one and two, there is fixture congestion in all leagues. The championship and prem are quite rightly allowed a say on that. If in Jan/Feb we are doing well, do we want a replay that saps our league form?
I personally like the idea of having a prem side at BP in round 5 where there must a be winner. If your at that stage, you’ve already made a good few quid.
I’d rather that, than a heroic draw which gives you an energy sapping replay. Which the underdog never wins, and very often affects league form. The cup is nice, and financially good. (This won’t change that dramatically) The league is what matters IMO.