You could list hundreds upon hundreds of players who aren't PL quality, get released, get sold and only player lower league football because they're simply not good enough to get another go at the top.
We've had absolutely loads of players
Here's a quick list from 1992 onwards for starters
Gerry Payton
Paul Holmes
Stuart Barlow
Preki
Gary Rowett
Brett Angell
Jon O'connor
Claus Thomsen
Phil Jevons
Tony Thomas
Mitch Ward
Peter Degn
Steve Simonsen
There's 14 players who were absolutely crap. Only 2 of them played for another PL club (Thomsen at Ipswich and Ward at Sheff Utd)
I'd probably include Hottiger (but he played for Newcastle), Stephen Hughes (but he played for Arsenal) who were both garbage, along with Joe Max Moore, John Spencer. I haven't even got going from season 2000 onwards yet!!