It is the first time since 1996 that there are no Premier League clubs in the final eight of the Champions League following exits by Manchester United, Arsenal, Manchester City and last season's winners Chelsea.
"Maybe English football needs a rethink," Pique told The Telegraph. "They have gone from having three teams in the semis to now, none in the quarters.
"The Premier League gets punished in relation to La Liga as the television money is more evenly distributed in England, but does that explain the difference with Madrid and Barcelona? Not totally perhaps.
"People say the league is more equal than La Liga but nonetheless United are 12 points clear of second place."
Barcelona are preparing to take on Paris Saint-Germain in their quarter-final second leg at Camp Nou this evening.