This puts cricketing authorities in tough spot they need to make Test cricket both interesting to watch and financially successful without losing its special qualities all while making sure sport continues to grow worldwide. It is difficult balancing act that will determine future of format.
It's not that tough actually. They just need to let the big teams play more matches between themselves through 2 or more team format tournaments and allow the lower ranked teams to play in separate tournaments between themselves.
This is basically the whole 2 tier system which I completely support since it is the optimal balancing act that you spoke of.