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But UEFA are not stopping them from competing against their business
They are saying these clubs can’t take part in UEFA competitions because they are the competition, which is perfectly reasonable. The ESL wants to have their cake and eat it. If you leave the membership of a club to set up your own, you can’t expect to still use their facilities.
It appears that FIFA/UEFA/FA is not in a strong position as they are in all practical aspect a monopolist, and using your power to prevent competition against their business is a clear violation of competition laws in both the EU and most other jurisdictions.
If so, I am starting to believe that the exodus clubs see this as a win-win situation. Either they succeed with their «project» and increase their financial stronghold, or they have a good cause for suing FIFA/UEFA/FA for damages and increase their financial stronghold.
If you can't dive with the sharks, get outta the ocean