Have you realised most English clubs spend a lot of money yet?
If everyone does it it isnt an advantage.
It's not an advantage, but you got all the tools as a manager to do some solid work. Especially when other richer clubs are so poorly managed so far, looking at United and Chelsea.
That's all. Outside City, Liverpool, and Arsenal, as long as United and Chelsea are struggling so badly, 4-6 spots are achievable with good work. Newcastle is also struggling this season.
The league is quite balanced until you get to 8-10 places where the drop-off in quality becomes clear. As you said, everyone spends a lot of money, so everyone has a chance with some good management mixed in.