I really wish to see some competition in the Bundesliga but I know that I'm just deceiving myself on one hand.

Because this has been the same for 10 seasons and it is likely to be another 10-year time period now. As long as we don't see any other team (except Dortmund) being bought by a billionaire, there is no hope for a new challenger to come out and fight with Bayern Munich hard for the league title. I'm really frustrated with Dortmund actually about this topic. They have such an amazing potential as they are a rich team. But just this business model is killing all the fun we could have.
I agree with you that the German league has become very stale and it is only played to see by how many points Bayern Munich will win the league this time. This has been the case for the past 10 years as they have won every single season and in addition to that, they have even won the local league cups as well.
I agree with you that unless a billionaire buys the club, Bayern Munich will be the undisputed champions for the foreseeable future which is pretty sad. Another thing is that Bayern Munich tends to buy star players from the opposing teams which also cripples them to climb up the table.