Any restructuring would have to accompanied by wholesale changes to the way football in the lower leagues is funded. But it's not just a matter of chucking more money into lower league clubs, as any person or organisation receiving a grant (as that is effectively what it would be) should be held to account as to how the money is used, and how it benefits the FOOTBALL CLUB, not the directors of that club. The more money that goes in, the more forensic the examination of the accounts should be. That would make clubs more financially accountable to the EFL, who should have the teeth, and the willingness to use them, in the case of transgressions.
But that assumes that funding is available. I have seen comments that the government should get involved, though I'm not sure what would be expected of them, unless it's forcing the PL to hand over some of their funds to the EFL, but that's as much government involvement as I'd like to see. Governments are too transient to be able to think too far into the future, and expecting government hand outs would then pass the fiscal reporting responsibility back to the government. The potential outcome of that is unthinkable. No, it's the EFL that needs to get it's act together
There is no doubt the current model is not sustainable in the longer term. Over recent years PS has run Gillingham on a financially sustainable basis, but how much money has been written off by lenders over the years to enable him to get to that position?
As far as league restructuring is concerned, I think that there might be a case for leagues tier 4 and below (i.e league 2 and below) to be regionalised for reasons given by WK above, but at some point clubs should begin a 'learning process' in preparation potentially for bigger things - Championship and higher - so I'd leave League 1 as national.