Historically clubs who havent qualified for the CL have still managed to acquire top players, its just as important if not more so that you pay the top wages. Look at Arsenal with Aubamayang or however you spell it as a recent example...
That's kinda the point though isnt it? For us the importance is closing the gap financially and in order to do that CL participation is key, especially if it's ahead of the likes of Arsenal and Chelsea - without it the gap is bigger which in turn makes it harder for us to compete
Edit : seen you've covered that in response to Nayim