Not my take on things at all.
Our owners knew full well what they were buying - a club turned by Ashley into a virtual basket case playing Russian roulette with relegation and promotion.
They knew all about FFP and its implications. So they knew they couldn't just throw unlimited money at the club, but were buying a long-term project.
The club under Howe massively over-achieved last season. As a result we didn't have a squad that could compete in both the premiership and the Champions League. A few injuries therefore led to players being over-worked, hence tiredness and more injuries, and not enough time to train and prepare properly.
As i see it, the only thing we could have done differently would have been to forget the domestic cups and play a second-string/youth team. not a good look for the fans, though.
That last years over-achievement has led to a situation where we are now lower-placed than hoped in the table can't really be a huge surprise, despite being a disappointment. However, with less pressure on the team for the rest of the season, and players returning from injury, I fully expect that our form will improve over the rest of the season, and that our owners will think that their project is pretty much on track overall. I would be shocked if they are losing belief in Howe's ability.