Absolutely agree with you, although the winners only qualify for the European Conference League, the third ranked Competition. The " Top tier " Premier League sides involved in Europe should be exempted from the EFL ( Carabao ) Cup, which should reduce their games by 3-5 per season. I'd also get rid of the two-leg EFL Cup Semi-Finals, and have one game, at neutral venues ..
As for the FA Cup, I'd go back to regionalising the 1/2nd Round games, and keep replays !! This was the case until the late 1990's, and would reduce travel costs for Clubs & fans alike. From round 3 onwards, I'd give any Club ranked in a lower Division drawn at home, the choice to switch the tie should they wish ! They can then make the choice of say, Marine hosting Tottenham at their tiny ground for one memorable day, or giving their players and fans a day out at the Tottenham Hotspur stadium, with the much higher gate receipts and securing the Clubs future for a couple of years ...