There's nothing really wrong with relegation. Sure, it's nice to be among the big fish but if you're not, so what? You still play every week and provided the club hasn't bankrupted itself trying to stay up you can still enjoy the game. From what I've seen of Championship matches this season they are mostly more entertaining than the PL fare.
It is always an interesting debate. Would you rather be fighting relegation in a top tier league, or competing for trophies in a lower tier league?
Owners chase the money, fans not so much.