I do agree with you.
I think the question of should they punished for breaking the rules, and the question should the rules even exist are two separate ones.
I agree with you 100%, that PSR/FFP is all about making sure only the established clubs can spend big money, they want a in built advantage, and got stroppy when other teams started competing with them financially. I hope that clarifies my position.
Also agree that the club is obviously well run in the football area, if you useless in this area, you can still fail whilst spending huge sums.