Win it and the league. Wouldn't be a bad season would it?
Of course I/we want to be in the Champions League, but like someone else said, it'll be great to see other teams for once and not the same old sides. A refresh is not the worse thing after the season we've had and should be used as an incentive to perform and get back to where everyone wants to be. Also feel that us being in it elevates the competition as well moreso than any other English team and like was also said, we're already going to be one of, if not the favourites to win it. Should absolutely revel in that.
So for me - Bring it on!! Some of my fondest European memories was from this comp: When we won it against Alaves in the Westfalonstadion after beating Barca in the semis, the comeback win against Dortmund at Anfield as well as beating the mancs last time out in it. Massive plus point as well is that it gives any new signings a little more leeway to settle in rather than have the spotlight of the CL games on them with the weight of expectation that brings. Not saying it's a free run as like I said above, we will be one of the favourites to win it, but I feel we can "enjoy" it more, if you see what I mean? its less pressure nevertheless, whilst acclimatising them to the club. Few more games as well given the format. so squad will benefit greatly.
Last point on it: It's what we're in because our performances this season dictated that's where we finished, so no point moaning about it. Use it as part of any "rebuild" whatever that entails, but ultimately, we got what we deserved. At least it keeps our UEFA co-efficient up for when we get back next year.
And remember: Things could be worse of course... look at Chelsea and Spurs.