Firstly re Balotelli. When he turned up with the right frame of mind he was world class and a pleasure to watch. Unfortunately however all too often he ended up being a bit "on his own" and disinterested and was awful as a result. This made him high risk I guess. Last season against United he was sublime. This season we was all at sea and was not playing as part of his team.
As regards the Championship I too find it a bit depressing that it has now become a bit of an expensive hobby of the mega-rich which detracts from the tradition our world renowned league was built upon. It basically means someone can come along, spend £600m on any team irrespective of its history or pedigree, enjoy success for a couple of years and then throw it away when they become bored (condemning it back to mediocrity) . In Man City's case, the club didn't have any real recent success to build upon. The millions came in and within a couple of years so did the trophies. The same happened to Blackburn with Jack Walker.
The best players command the highest fees so if you want the best team you have to spend the most money. It doesn't always quite work out perfectly and that in itself creates intrigue but generally you will find it is the case.