I do believe that it was a bit harsh to give Everton that much penalty, a 10 point reduction for a team that size usually means relegation, and that means you basically render their season gone all season long. What are they end up playing for this whole season long now?
I mean sure they could play to stay in the league and that's what they will officially be doing and not like that would be impossible, there is definitely a chance for them to stay, but if they do end up losing out and relegate, all due to this 10 points which they could have stayed in the league if it weren't for that, then the whole season was for nothing. I am not saying do not punish teams that breaks the rules, but at least make it sensible, like do not allow them to transfer next season, or just give them a financial penalty, that would make a lot more sense. I understand that it may look like there is a good chance that they would go down anyway, this just hurts way too much to see.
It's tough when they have to lose the 10 that they worked so hard to accumulate this season. This made their position freefall to 19th place in the standings, as well as directly in the relegation zone.
Now what I want to emphasize here is that the discipline of the club or management will be very crucial, because the sanctions they get are also not playing games, reducing 10 points is not an easy thing to accept. This was experienced by Juventus last season, but in the end their point deduction was revised so that it was not as big as at the beginning, which was a reduction of 15 points. I hope Everton also have the same luck, with the steps they will take.
Now the punishment has been agreed upon and indeed it will definitely be very difficult for them because their ranking has dropped dramatically when previously ranked 14th now plunged to 19th position. But indeed giving up now is not a good thing especially with their current performance raised at least they should try better in improving their performance and points back up. Although surely this will have an impact on the stability of the team when the reduction of points could have made their spirits deteriorate but now the league is still long enough and they can still get out of the current relegation zone.