I agree with you.
Football is like no other business, you fail as a manager, and you get paid all your remaining salary.
Gate receipts are a drop in the ocean compared to the sky money, sponsorship and advertising,fans boycotting game won't make a big difference to most clubs.
Sad but true.
Parachute payments were brought in to help relegated clubs to survive with a high wage bill on a substantial reduced income. The problem is you have to pay inflated salaries in the Premier league to compete, and if you are relegated, you have the same wage bill for at least a year or two.