The current system doesn't work so something has to change
Introducing P&R straight away will just see a return to the Yo-Yo teams with the Have's getting stronger and the Have nots getting weaker.
Keep the current licencing system for now but reduce the number of SL teams to 12.
Either a small increase in the salary cap or greater exemptions for 'home grown'players such as their salaries only counting 75% towards the cap.
Use the money from the 2 less SL teams to increase the slary cap in the Championship and work towards closing the gap between the 2 leagues.
Then (and only when) the gap has closed significantly, reintroduce P&R
The gap between SL and the Championship has grown significantly over the last 5 years , it is now completely unbridgeable , any club being promoted now under any system would do itself more damage than good
So you are correct and it has long been my argument , the only way to improve SL is to have a strong tier beneath it , yes licencing has removed the yearly fear of relegation , but that in itself isnt a good thing , it hasnt been replaced with anything else apart from a few toothless threats from Red Hall
A strong growing Championship would force the bottom dwellers of SL to improve or face the real threat of removal