It's definitely gone down in stature since it changed from the UEFA Cup to the Europa League. That said, I can't see why many of the English teams view it as a punishment. On Fulham's run to the final, you could see the excitement that run generated from it. For teams such as Fulham, Newcastle, Everton and even Tottenham, it would be a massive achievement to reach the final and possibly win it. I would also be in favour of scrapping the third placed Champions League team being parachuted into the Europa League. It definitely diminishes it as then you get teams that really have no real interest in playing in it despite what they say e.g - Man United and Man City last season.