It's been made out to be some kind of turf war between the old guard "traditional big clubs" and the "new money clubs" challenging their long established dominance.
It's how Manchester City has become Schrödinger's Football Club - at once, a plucky underdog minnow standing up to the big boys, whilst somehow also being more commercially successful than Real Fucking Madrid.
It's as if City and Newcastle have somehow become flag bearers for the fans of small clubs everywhere, finally sticking it to the "big" clubs.