Because of the mega money coming into the EPL every team has the chance to buy top players and while United, City, Chelsea, Arsenal and to a lesser extent Liverpool and Spurs are still much richer than the rest of the league, the quality is such that Chelsea has struggled badly this season, United cannot score and City can't defend. In Germany Bayern are clear of Dortmund who are clear of the rest. In France PSG have almost won the league. In Spain Athletico Madrid and mixing it with the big 2, but I heard their debt was absolutely ludicrous and wouldn't be allowed anywhere else - maybe government subsidies are involved as well. Italy seems fairly competitive this year but maybe not at the same level as the EPL.
The Champions League is fairly dull if you do not support one of the big teams. It will all come down to Barca, Bayern and Real as usual. Maybe City will be the other semi-finalist if their best players are fit.
When it started out the EPL was very much biased towards the big clubs because they were all of sudden allowed to keep their gate money whereas it had to be shared previously. Of course now gate money is dwarfed by TV revenue and sponsorship and the former is a bit more even. Still, in the last 2 seasons United have spent £260 million on new players and are not any better, whereas Leicester spent 400 thousand on Mahrez, an Algerian, and gained the most points in 2015.