The issue for me is the lack of recruitment when we were on top. What is being missed is that if we hadn't renewed contracts then we would have had Mane, Firmino, Salah, Henderson and Fabinho all with their deals running out at a similar time. The lack of planning was breathtaking.
It's an aversion to signing players and spending money. Releasing players doesn't mean new signings if we aren't getting transfer fees.
Salah was an example of needing to protect your asset. If we hadn't renewed him we'd be bemoaning the fact that we lose him for nothing in the summer.
City, for example, are more relaxed about cutting players loose in their 30s when their legs have gone at the end of their contracts (Fernandinho, Aguero, Silva, Toure) and then spending big to replace them. That's not our model.