diff --git a/packages/eslint-plugin/docs/rules/no-extraneous-class.md b/packages/eslint-plugin/docs/rules/no-extraneous-class.md
index 4c0a03141441..aa221ce17fa0 100644
--- a/packages/eslint-plugin/docs/rules/no-extraneous-class.md
+++ b/packages/eslint-plugin/docs/rules/no-extraneous-class.md
@@ -2,14 +2,21 @@
 
 Disallows classes used as namespaces.
 
-This rule warns when a class is accidentally used as a namespace.
+This rule warns when a class has no non-static members, such as for a class used exclusively as a static namespace.
 
 ## Rule Details
 
-From TSLint’s docs:
+Users who come from a [OOP](https://en.wikipedia.org/wiki/Object-oriented_programming) paradigm may wrap their utility functions in an extra class, instead of putting them at the top level of an ECMAScript module.
+Doing so is generally unnecessary in JavaScript and TypeScript projects.
 
-> Users who come from a Java-style OO language may wrap their utility functions in an extra class,
-> instead of putting them at the top level.
+- Wrapper classes add extra cognitive complexity to code without adding any structural improvements
+  - Whatever would be put on them, such as utility functions, are already organized by virtue of being in a module.
+  - As an alternative, you can always `import * as ...` the module to get all of them in a single object.
+- IDEs can't provide as good suggestions for static class or namespace imported properties when you start typing property names
+- It's more difficult to statically analyze code for unused variables, etc. when they're all on the class (see: [Finding dead code (and dead types) in TypeScript](https://effectivetypescript.com/2020/10/20/tsprune)).
+
+This rule also flags classes that have only a constructor and no fields.
+Those classes can generally be replaced with a standalone function.
 
 Examples of code for this rule:
 
@@ -18,18 +25,16 @@ Examples of code for this rule:
 ### ❌ Incorrect
 
 ```ts
-class EmptyClass {}
+class StaticConstants {
+  static readonly version = 42;
 
-class ConstructorOnly {
-  constructor() {
-    foo();
+  static isProduction() {
+    return process.env.NODE_ENV === 'production';
   }
 }
 
-// Use an object instead:
-class StaticOnly {
-  static version = 42;
-  static hello() {
+class HelloWorldLogger {
+  constructor() {
     console.log('Hello, world!');
   }
 }
@@ -38,18 +43,151 @@ class StaticOnly {
 ### ✅ Correct
 
 ```ts
-class EmptyClass extends SuperClass {}
+export const version = 42;
+
+export function isProduction() {
+  return process.env.NODE_ENV === 'production';
+}
+
+function logHelloWorld() {
+  console.log('Hello, world!');
+}
+```
+
+## Alternatives
+
+### Individual Exports (Recommended)
+
+Instead of using a static utility class we recommend you individually export the utilities from your module.
+
+<!--tabs-->
+
+#### ❌ Incorrect
+
+```ts
+export class Utilities {
+  static util1() {
+    return Utilities.util3();
+  }
+
+  static util2() {
+    /* ... */
+  }
+
+  static util3() {
+    /* ... */
+  }
+}
+```
+
+#### ✅ Correct
+
+```ts
+export function util1() {
+  return util3();
+}
 
-class ParameterProperties {
-  constructor(public name: string) {}
+export function util2() {
+  /* ... */
 }
 
-const StaticOnly = {
-  version: 42,
-  hello() {
+export function util3() {
+  /* ... */
+}
+```
+
+### Namespace Imports (Not Recommended)
+
+If you strongly prefer to have all constructs from a module available as properties of a single object, you can `import * as` the module.
+This is known as a "namespace import".
+Namespace imports are sometimes preferable because they keep all properties nested and don't need to be changed as you start or stop using various properties from the module.
+
+However, namespace imports are impacted by these downsides:
+
+- They also don't play as well with tree shaking in modern bundlers
+- They require a name prefix before each property's usage
+
+<!--tabs-->
+
+#### ❌ Incorrect
+
+```ts
+// utilities.ts
+export class Utilities {
+  static sayHello() {
     console.log('Hello, world!');
-  },
-};
+  }
+}
+
+// consumers.ts
+import { Utilities } from './utilities';
+
+Utilities.sayHello();
+```
+
+#### ⚠️ Namespace Imports
+
+```ts
+// utilities.ts
+export function sayHello() {
+  console.log('Hello, world!');
+}
+
+// consumers.ts
+import * as utilities from './utilities';
+
+utilities.sayHello();
+```
+
+#### ✅ Standalone Imports
+
+```ts
+// utilities.ts
+export function sayHello() {
+  console.log('Hello, world!');
+}
+
+// consumers.ts
+import { sayHello } from './utilities';
+
+sayHello();
+```
+
+### Notes on Mutating Variables
+
+One case you need to be careful of is exporting mutable variables.
+While class properties can be mutated externally, exported variables are always constant.
+This means that importers can only ever read the first value they are assigned and cannot write to the variables.
+
+Needing to write to an exported variable is very rare and is generally considered a code smell.
+If you do need it you can accomplish it using getter and setter functions:
+
+<!--tabs-->
+
+#### ❌ Incorrect
+
+```ts
+export class Utilities {
+  static mutableCount = 1;
+
+  static incrementCount() {
+    Utilities.mutableCount += 1;
+  }
+}
+```
+
+#### ✅ Correct
+
+```ts
+let mutableCount = 1;
+
+export function getMutableCount() {
+  return mutableField;
+}
+
+export function incrementCount() {
+  mutableField += 1;
+}
 ```
 
 ## Options
@@ -76,10 +214,104 @@ const defaultOptions: Options = {
 };
 ```
 
+This rule normally bans classes that are empty (have no constructor or fields).
+The rule's options each add an exemption for a specific type of class.
+
+### `allowConstructorOnly`
+
+`allowConstructorOnly` adds an exemption for classes that have only a constructor and no fields.
+
+<!--tabs-->
+
+#### ❌ Incorrect
+
+```ts
+class NoFields {}
+```
+
+#### ✅ Correct
+
+```ts
+class NoFields {
+  constructor() {
+    console.log('Hello, world!');
+  }
+}
+```
+
+### `allowEmpty`
+
+The `allowEmpty` option adds an exemption for classes that are entirely empty.
+
+<!--tabs-->
+
+#### ❌ Incorrect
+
+```ts
+class NoFields {
+  constructor() {
+    console.log('Hello, world!');
+  }
+}
+```
+
+#### ✅ Correct
+
+```ts
+class NoFields {}
+```
+
+### `allowStaticOnly`
+
+The `allowStaticOnly` option adds an exemption for classes that only contain static members.
+
+:::caution
+We strongly recommend against the `allowStaticOnly` exemption.
+It works against this rule's primary purpose of discouraging classes used only for static members.
+:::
+
+<!--tabs-->
+
+#### ❌ Incorrect
+
+```ts
+class EmptyClass {}
+```
+
+#### ✅ Correct
+
+```ts
+class NotEmptyClass {
+  static version = 42;
+}
+```
+
+### `allowWithDecorator`
+
+The `allowWithDecorator` option adds an exemption for classes that contain a member decorated with a `@` decorator.
+
+<!--tabs-->
+
+#### ❌ Incorrect
+
+```ts
+class Constants {
+  static readonly version = 42;
+}
+```
+
+#### ✅ Correct
+
+```ts
+class Constants {
+  @logOnRead()
+  static readonly version = 42;
+}
+```
+
 ## When Not To Use It
 
-You can disable this rule if you don’t have anyone who would make these kinds of mistakes on your
-team or if you use classes as namespaces.
+You can disable this rule if you are unable -or unwilling- to switch off using classes as namespaces.
 
 ## Related To