Stranded From a L1 perspective, if we drop we will be a big fish, no doubt about it - 20 years in the top 2 divisions will ensure that - there will be a massive percentage of fans and players involved who won't know as anything but a Champ/PL club.
From an attracting players perspective, our turnover will shrink but will still likely be one of the highest in L1 esp if we sell a few players too and - most importantly - we will have one of, if not, the best training facilities in the division. Yes there will be some other big clubs in there - whoever doesn't go up of Weds, Ipswich, Bolton, Derby for example but certainly from a Free Agent perspective - we should have a decent chance of signing most players who could/should be performing at the top level in L1.
In the Champ, we may find it harder to make headway. There is an argument that could be made that we could build a team better equipped for the Champ in L1 by using our plus points to attract young players who are already capable of playing at the top of L1, who could in a year or two be Champ ready - ideally with us.
Think a lot of it will be down to the type of manager we can attract. Can't imagine we are going to want to pay compensation for anyone highly rated so we are looking at out of work managers with a track record of performing well in League 1 and ideally getting teams promoted.