People are not taking into account that by being in premier league they will earn more money and sponsors which will automatically mean strong recruitment
Currently, they are mid table candidates with Rangers doing a bit better than Celtic. But I agree, both have high upsides and are way too big for the Scottish Premiership.
After a few years, they potentially could be competing for top four. The Celtic team that got to the UEFA Final in 2003 would certainly fall in that category and they also knocked out English teams, Blackburn and Liverpool if my memory serves me correctly.
The same could be said about the UEFA Final reaching Rangers team of 2008 although they were a bit weaker. The fan base and size of the clubs would inform us that competing for the top honours would be a real possibility.
As the financial gain of the top five European leagues has allowed them to pull away from the rest of the clubs in Europe, the Old Firm are no longer able to attract the top players like they once used such as Henrik Larsson (rated no.2 in Celtic's all time best players) and Gazza at Rangers. You may get the odd anomaly here and there at best.
Its more about picking young potential and selling on for profit, see Virgil van Dyke, Kieran Tierney etc. nowadays. This has been more the case with Celtic as Rangers have had to rebuild and start again from rock bottom since 2012 when they were liquidated.
However, this is all moot point as its been talked about for years but its not going to happen in its current state. There have been rumours that the 'big six' would invite the Old Firm to join a British Super League but we all know how well the idea of a European Super League went down with fans.