Sure, and I think this is the future though some nations are not going to happy if say five teams (in your case England, Wales, Scotland, Northern Ireland and Ireland) doesnt have to go through qualification. But maybe nowadays with 24 teams instead of 16, FAs across Europe might feel less bad...
It should be in just one or two countries. The downside with expanding it to 24 teams is that only five or so nations in Europe could possibly host it on their own, not quite sure how this is supposed to be solved in the future.