It is definitely very similar, but the main difference is the Saudi Government (via PIF) just purchased and now owns a majority stake (I think it was reported 75%) in the top 4 clubs and are bankrolling these signings.
Especially with the LIV/PGA merger earlier today, I think this will just continue to rise and splash cash
Oh there’s definitely differences in format and I do think China has less money to just light on fire, but the core of “sign past their prime players for way over what they’re worth and hope people like it” is the same.
So far they haven’t been able to successfully target any prime stars. Ronaldo is clearly on the back side of his career and although Benzema is still very good, he’s getting to the point where he’ll start to fade.
You also can’t really build an interesting league out of a few random superstars. It’s not consistently exciting to watch Messi dribble around and pass to a bunch of dudes no one has ever heard of. You need at least a decent level of talent around them to make the league interesting which raises the potential cost and headache to a dramatically higher level.
Even if they managed to pip Mbappe for a billion dollars, no one is tuning into the league unless he’s playing with others who have at least some talent.