I agree, albeit I can see both sides.
They claim the aim was to prevent sides "doing a Leeds" .... coming up, spending massively and gambling/assuming they will make the CL every year. That works, right up until the point that you miss the CL and then you implode, like Leeds, cos you have a lot of players on big wages that you can't afford and there's no guarantee anyone else will offer them those wages. Or offer you a price you'll accept, or one you need, for them.
In that respect, I think the FA/PL are right. No one wants to see a side implode and drop down the leagues. Unless it's United. Actually, or Chelsea/City who have been benefited from dodgy spending.
But, I totally understand, and agree that it's not fair that (say) Newcastle. who have Saudi owners, aren't allowed to spend £500m per window. Their owners have the money, if they want to spend it, I can totally understand why they are pissed at PSR saying "actually, you need to sell!"
It's a bit nuanced though. If Newcastle were allowed to spend 500m per window that knocks the whole global football market on it's arse. Suddenly someone, say Atleti, are getting £200m for Julian Alvarez. That then lets them buy four other players, and probably pushed up the price that other clubs have to pay for strikers as the selling club will highlight Alvarez' price as 'the going rate'.
I guess the counter argument there is 'that's what the big clubs have been doing for years.'
There must be some middle ground though. Some way to allow clubs to spend to try and break the glass ceiling but not leaving them exposed to potential bankruptcy if the owners get bored. The problem is you need turkeys to vote for Christmas there. All the PL clubs need to agree, or at least a majority (I think they work on 16 being the magic number) and there are enough clubs who will realise that allowing Newcastle to spend like there's no tomorrow is going to impact their PL chances.
On another note, I saw a stat on the BBC website today, Manchester United Boss Michael Carrick only became the club's boss in May but only ten PL managers have been in post longer than him.
He's had his job two and a bit months and is already the 11th longest serving PL boss!