Not at all, you're just seeing one side of the story.
He inherited a great squad.
By Championship standards he had great budgets every season.
Results were getting worse.
The squad kept getting worse
With 43 players brough in, none have yet given the club a profit. (I spent some time compiling the list yesterday, but nobody have taken any notice of it,
bit more here)
When you continuously make short term decisions, it will catch up with you sooner or later.
Having said that I think it's quite possible that we would have stayed up if he had been left in charge, but unless he suddenly were to change his ways, the following season would probably seen us struggle even more.
Another interesting article Bergen and I don’t disagree too much.
To play Devil’s Advocate slightly, Blackwell DID sign a number of players in their early to mid-20’s who could theoretically be improved and if necessary sold at a profit.:-
Cotterill, Haber, Howard, Ward, Williamson, Reid, Taylor, Evans, Yeates, Aksalu and Britton (11 out 25 permanent signings).
It didn’t work out for various reasons but he didn’t only make short-term signings.
On a number of occasions, he lost players on the very last day of the transfer deadline (Tonge, Bromby, Howard, Walker) leaving him no option but to replace them with short-term loan players. How many of those last-minute departures were forced upon him?
When James Beattie was sold, McCabe announced that “we have a replacement already lined up”.
That turned out to be Leroy Lita (another player in the under 25 with potential category).
He turned us down and we eventually signed Lupoli and Craig Beattie on loan instead.
Are we seriously surmising that Blackwell chose to bring in two short term loans rather than sign one permanent player with good prospects?
Or again, was he the victim of decisions made by others?
At the time when Naughton and Walker were sold, the official site said we had made bids to sign Evans, Surman, Mcindoe and Tommy Smith (all under 30).
In the event, we only signed Evans, France, Little and Stewart. Compare and contrast Blackwell's targets with what he was actually allowed to do.
So, in summary. I agree that the club has taken a short-termist approach in recent years. It began when McCabe only gave Warnock a one year contract.
Blackwell has been a victim of that short-termism from above, as well as being in some instances, a willing participant.