Hmmmm. Saying that you can't have another Exeter conveniently ignores Bristol, who are doing OK at the moment after several seasons of trying to get promotion.

Saying that if Bath went down, the competition would be meaningless is also wrong, as Bath don't actually meet the criteria for promotion as far as I am aware, due to their ground capacity (and I'm sure there are others).

It is a conundrum, and relegation is really not pleasant, but how else do you make the second half of the season in any way meaningful?

Bristol and Exeter aren't really comparable cases. Exeter grew organically, keeping faith with a lot of their squad from the championship and making additions here and there to get to the place they are now. Bristol kept not being promoted, then bankrolled by Steve Landsdown they hired Pat Lam as DOR on a big salary and bought in players like Madigan while in the championship. With the amount of money they've spent they should be competitive.  Exeter have said they probably wouldn't be able to do what they've done if they came up now rather than in 2010.

Short of wealthy benefactors or a large grant from the RFU, the financial difference between the Prem and the championship is an obstacle that is very difficult to overcome for clubs looking to make the leap.