You are right of course. But it's quite interesting to play with different ideas.
I actually think expulsion is much more likely than a points deduction. Hopefully, from both the Premier League and Football League with certain safeguards in place should they wish to return to the football league.
That said, I actually expect there will be a loop hole or something that Manchester City can exploit to get them off the hook. This may actually suit the Premier League too as to go through with a monster punishment is so risky- especially, with the money numbers being discussed.