That all sounds reasonable except you've missed the major reason we were in that position and that was due to years of poor recruitment driven by short term, expensive loans instead of long term planning. We didn't find ourselves in that position. We put ourselves in that position. You can't look at the last window in isolation at good or bad. You have to judge whether the squad is good now due to recruitment going back 5+ years and whether we are in a good place financially to be promoted this season, next season or within 5 seasons.Let's put it into perspective. At the beginning of June we were looking at losing 5 1/2 first team players:
Steffen, Giles, Mowatt (the 1/2), Ramsey, Akpom, Archer.
We were also losing some back-ups.
We had been short at centre back all season and didn't know if Clarke would ever be fit again.
We had also been short at centre-forward
Finally, we didn't know whether Howson would last another season and whether McNair would leave. Clearly we hoped that we could recoup some money from Payero.
Assuming someone came in for Akpom, we had to replace all of these with likely around £12m. In the circumstances, I think we did ok.
We seem to have been over-optimistic that we could keep Giles and that appears to have compromised our search for a LB. Looks like the original plan was Giles+Coulson with Bola making a little bit of money for us.
We appear to have missed out on one or more first choice centre-forwards. I kind of feel that we paid too much for Latte Lath given his track record but it looks like we were struggling at that point.
Dieng was a great value replacement for Steffen.
O'Brien was an upgrade on Mowatt and possibly a replacement for Howson. The midfield unit was a slight upgrade.
RVDB was a decent plan to provide some depth in the centre-backs
We had McGree to play left sided attack so it seemed reasonable to get some like Rogers as a back-up.
Greenwood was possibly one of our top choices to replace Akpom but it seems like we had difficulty doing the deal. Right now, he's not looking great.
The rest were a mix of free/low cost back-ups and possible 'projects.'
It wasn't a perfect window by any means but there were limits to our money and ability to get deals over the line.
Personally, I don't think we are in a good position with the quality in our squad or financially. Too many low quality gambles that I don't think will pay off and not a lot of cash waiting in the wings to improve things significantly. The good gambles we have made might make enough profit to cover the losses in the others but not enough to allow us to gamble with higher stakes.
Hopefully I'm wrong and more of them come good than I expect but, Akpom aside, there haven't been too many players that get written off that have drastically improved and exceeded expectations.