And of course likewise you may well be right. I suspect the real truth will be somewhere between the two views.
To change the argument slightly: are the fans to blame? If the club had said, "Look, the players' wages are bleeding us white and if we want to get anywhere near financial...
Well yes, but we haven't recruited good ones have we? We sold/released the good ones and immediately replaced them with inferior ones - who are costing as more!