Your last sentence is pretty much how I'm feeling. I've been saying all along that a lot of the Will Still phenomenon is hype. I think, to some extent, the club were right to go after that hype for PR reasons. I can't say I didn't want us to get him, but there are certainly more suitable options out there. If he doesn't want to come here, it's not a massive loss.
The club should maybe not have pursued him for so long but there's no shame in losing out to Lens for him, given the position that they're in. I'm afraid, I think it really is as simple as Lens can offer him a crack at European football and are higher up in their respective league system. I don't believe this stuff about it being down to staffing and investment. Partly because Lens are clearly a more attractive prospect than we are currently. Partly because the people propagating those ideas have stated a pre-existing dislike for Speakman/KLD/the perceived 'model'.
Some things do need to change within the club but, like everything else that has happened so far, missing out on Will Still doesn't warrant calling for KLD to go or for the blueprint for running the club to be torn up as some seem to want.