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The league format was actually aimed at creature more competition and I think that is almost achieved as unlike before the europa is now even more serious and very competitive as it now appears that getting pass the group stage alone isn't an easy one like the former where you have to literally just play against four teams in eight fixtures but this time you get stretched way beyond that and if you don't have the stamina and possible strength,,you may get relegated by the better sides.
Previously, when the group phase format was still used, the teams that would qualify for the last 16 could already be predicted, this time everything has changed completely after the new format was implemented, each club must protect each other's opportunities because there is no longer a Home Away system. Now there is a little bit of a different color than before, each team must maintain their mentality to steal points at the opponent's headquarters to increase their chances of finishing in the top 8.
Position changes will still occur in the top 8 positions because the points difference is still very thin.
The new format implemented by UEFA has brought new dynamics in both UCL and UEL competitions this season, not only in UEL, even we see in UCL many favorite teams actually have to struggle to qualify for the next round, without the Home Away system, making every match more challenging and there is no longer an advantage to play at home, So that requires each team to perform optimally in each of their matches and of course indirectly improves the quality and intensity of the current UEL and UCL competitions, as you said, the new format has provided greater opportunities for teams that are usually considered underdogs to make surprises, so we can say that it seems that indeed the format change was made to deliberately provide difficulties for the team team that has dominated so far.