It used to be a decent tournament when it was the Uefa Cup and it contained teams finishing 2nd, 3rd, 4th in their leagues, but not anymore. Going back to that old model wouldn't be worth it, why have two tournaments - one with the champions and one with the rest who are currently in the Champions League when you can stick with the one.
Plenty of teams do seem to like the competition though, so I'd say if Liverpool or Inter have no interest in it, they should pass on their place to another team in their league.