I don’t think so. What we are witnessing is an inorganic growth with no FFP rules existing in the league and much controlled by the state.
What makes the leagues successful is the football ecosystem in the country. The home country fans also play a big role in the success of the league. Then come the global reach of the leagues based on the number of competitive clubs within the league. Although football is quite a popular game in the Gulf, but I doubt it can beat the fan home base number, fanaticism and the historic club rivalries in Europe.
So far, we haven’t seen a successful run for Ronaldo at Al-Nassr. It will be interesting to see how this mass exodus with no FFP rules pans out over the next 3-4 years. 
