The Europa League competition may be seen as a competition that is not meant for clubs but some times we have seen some top clubs in Europe playing in the Europa League competition when they fail to qualify in the champions League as a result of not finishing among the 1st four teams in their domestic league. I think seeing the Europa League as a competition for teams that could not qualify for the champions league competition is better than regarding the Europa League as a competition for small clubs because teams like Chelsea, Barcelona and Manchester United have all participated in the Europa League and they are also winners of the champions league competition.
Before you say that the Europa league isn't for clubs that are referred to as big clubs in Europe, i want to take your mind back to the fact that when big teams in the champions league which happens to be the league for the big teams fails to qualify pass the knock out stage, they are relegated to the Europa which further gives credence to the Europa as it at that point creates a leveling ground for these teams to compete at almost same level without having to really consider their said status much before then so its actual a big league and should be regarded as such and not just any league as its the second or third most see across Europa and at a point in the world.
In previous format there was a flaw as few teams were able to join after having exit from Champions League but now with new format things are well-balanced, and all clubs are having equal chance of going through for the win which making things more interesting and balanced this also increase value of Europa League now having title of Europa League is surely matter of worth and honour for all clubs in European Leagues.
In this season, we have few clubs are well-balanced for win and things can go favourable for them but right now situation is interested in few which are looking for having spot into next round we have 3 weeks in start of 7th round with few top teams are going to face the toughest opponents and things could be at top for having them into ground against their quality opponents.