I agree with Hurst... to me the comparison is between clubs with teams that play each other in the most competitive league and have an opportunity to meet during the season. Elite/premier/gold... whatever definition, is just a name. The clubs that fielded these teams in this league felt that they would be competitive with the talent available.
I am sure that by now noone would field a team in the highest league if you did not feel you could win. I can see it happening at younger age groups where you may not know where you fit.