Europa isn't a hindrance if you've got a manager that knows how to rotate properly and has a squad with which you can rotate well (ie Klopp + current squad + few additions).
Europa is a win, no Europa is a win, not hugely bothered by either even if the former is preferable. Main loss of no Europa is no playing time for the young players, and seeing as Klopp isn't in favour of the loan system, that's going to stunt their progression a lot.
We're getting CL anyway