There's a lot of comments here comparing the Championship teams to the likes of CSKA Moskow, Benfica, Galatasaray, etc. Obviously no one with any sense is saying that the Championship teams could win the league in Turkey, Portugal, Russia, France, etc. But, I do think there's a chance it's at least close to the top 5 on overall quality. It's the same argument about the PL vs La Liga, Bundesliga, Serie A, etc. Yes, Bayern/Barca/Real Madrid/Juventus are ahead of any PL team right now. But in terms of overall quality I think La Liga is the only one that could possibly complete with the PL, and personally even then I think the PL is slightly ahead. Last year Man City made it to the semi-finals of the CL and barely managed to place top 4 in the PL. I think the top Championship teams could be mid-table or higher anywhere other than Spain or in the PL.

Logically, it makes sense. Money doesn't always translate to success but it helps, and the CL is far richer than most leagues in Europe outside of the top 4.