It is not about being better, it's about getting talked about and they are getting there. When you talk about football, you talk about Saudi league these days, they are really doing a big job without a doubt. I think it is a good thing for them too because if you consider the fact that Saudi league wasn't even on the map a year ago, and now they are talked about this much, it means that they are on the right track.
I didn't know about the owners as well, but like you said, as long as the presidents are different they will all try to beat each other and be the best team that owner has. With this much money they could have built a better team, but it wouldn't be talked about this much so it's not really a bad idea.
There are four clubs that were acquired recently by the company Public Investment Fund "PIF". and this company is under the auspices of Prince Mohammand bin Salman. PIF bought 75 percent of the shares of the four big Saudi clubs, with the remaining 25 percent owned by the respective club's non-profit organizations. but it seems, club management and so on are still managed by each club. thus, you can be sure that the competition competition will run naturally as usual. Even so, there are still various controversies that become pros and cons.
but this goal was carried out, it became a project for Saudi Arabia to develop their football. plus, targeting to host the 2030 world cup later.
well, rumor has it, Saudi withdrew from being the host because there were several candidates who were stronger to host than them. even so, I'm not sure that this rumor is true or not.
Speaking of the saudi pro league, so far at least this competition has caught the attention of many and especially after several top clubs signed other top players like Benzema. after that, several newcomers came to play in this competition. at least, what the Saudis are doing is one step on the right track. the impact, now they are the attention of the whole eye of the world. although, what they have done so far has not been enough to significantly improve the development of football. at least, it took several seasons or even more to be known by the wider community.