Well I think that if the ambition of the club's management amounts to no more than 4th place in the EPL then the debate will rage on further. Had Arsenal not been a winning team then I imagine most would be reasonably content with the aims of the business model. Because of Arsenal's history and tradition, the fanbase demands more and eventually a rich suitor with sporting ambitions may come since the business model would in itself be seen as sufficiently attractive and all that remains is the will to put the club on the road to winning again. This is a sporting establishment so while you have to please the accountant, you cannot please the accountant forever without pleasing the fans. My 2c
We've had and now got rich owners. However they got rich by producing profit not dreams. You would think £50-100m spent would give the owner a chance to stand there with trophies? They don't get turned on by that - its the bottom line that excites.