There’s a lot of sense in what you say. I’ll just add this:

They have rewritten the rules. Clubs now have to submit in full, quarterly (I think) and a final year end by May. The FA has until August to review/approve/charge. Any appeal etc to be wrapped up by Christmas. This prevents the delaying tactic. They also moved the burden of proof to the club more than the FA, and failing to cooperate is considered the same crime, with same punishment.

If we use Sheff Wednesday as a reference point, and Everton, then SW got 12 points reduced to 6 on appeal. City’s 6 ffps for direct investment look broadly like SW’s. Everton look less bad, and they have 10, and I suspect will get 5 on appeal. The Mancini breach is the worst, and will get more than 12 and I doubt will be reduced in appeal. It’s literally cash in brown envelopes bad. So, let’s say 6x6 and 20. That’s a 56 point deduction. Interestingly, that would require 94 points won to stay up, or put another way a very interesting season for everyone. Did someone mention PR? Nobody has been murdered and City will have their destiny in their own hands. That’s good for the product, good for the media, good for the ethics, and, I’d say, good for City.

They will also get big fines, and appeal on severity. They can’t argue against most of the charges for failing to cooperate.

On the question of stripping titles? I can’t see it. Other clubs have had point deductions and they didn’t apply retrospectively. There’s only the Juve precedent and that’s match fixing not ffp.

Someone elsewhere claimed that on being found guilty they could be banned from Europe. I’m not sure that is the case (it might be, I don’t know) but I’d expect UEFA to pressure the FA to do so. And again, no PR issues, really.

I said elsewhere, the biggest real consequence for City is if Pep walks, and/or players aren’t motivated to fight a relegation fight with a title winning performance.