There's around 8 teams competing for Champions League places and another 8 'Steady Eddys'. That only leaves 4 clubs fighting to avoid 3 relegation spots.
You can't dimiss the level of the opposition in the Premier League; 'oh, well of course we'd lose to them, they're a top club' - If you can't compete in the Premier League, against all the clubs, you are fighting against relegation.