For Juventus this will hurt that they now have to play the COnference league. Of course they are a favorite there, but a big team like Juventus probably has very little desire to play it. But that's the way the rules are and they accepted the punishment. If they hadn't been given the 10 points deducted penalty they would just play Cl. So AC Milan is of course happy with this statement. Atalanta played a reasonable season, so not good and not bad. Fiorentina reached the final of the Conference league but are now missing out in the competition.
Yeah unfortunately there is no way to run away from that punishment. It is one of the main factors hindering them from joining back the Champions League. They can't even join the Europa League which is another bad news. Because if they were then at least they would increase their chance of going back to the Champions League by the end of next season.
I agree that Juventus might not want to be very competitive in the Europa Conference League. It would actually depend on their situation with the titles in that time. If they are likely to finish that season without a title then they can get more ambitious about at least winning this one. By the way I hope Allegri leaves after this poor season just as I indicated before as well.