I agree with you, they do have money, but money is not the only factor that can immediately make them the best league or the mecca of world football. Not to underestimate, they also come from Asia, which we know Asia has only recently been able to show tight competition in the international arena such as the World Cup. The ambition or motivation to do that is legitimate, but we can also measure for ourselves how far it can be done, and if it can happen then how long it will take them. In the World Cup alone, countries from Asia have never represented to become champions.
I don't think the Asian League especially the Saudi League will compete with the European League because after all the world recognizes how the European League has become the best league in football they have built a reputation longer than the Saudi League so I think the Saudi League just needs to be a competitor but it is impossible to surpass the European League even though they can recruit star players but most of the star players move to the SPL because they are getting old there are no young quality players but choose to explore their careers in the Saudi League.
We have to understand everything is possible, but changes are never been happening just in few days or weeks sometime these take years and decades so in this case I believe they can catch up with European Leagues, but this is going to be long job with having good management while they are having enough funds which are also important, and we have few failures in paste in few Asian countries but Saudi League case is completely different they can spend as much they needed.
Organizers of Saudi League are going through with their vision as they work years for this now things are on work, and surely we will be having them on real time decisions and having things also well under control Saudi governments new vision of bringing changes and less dependent on oil are great so most chances they will be able to have good future with tourism and sports could be another best source for them.