That's one way of looking at it. The other side is we're bringing in players we simply do not have the funds (wages and fees) or stature to carry off so if we're looking at perms we'll be fishing in a different pond.
Parachute payments mean for this season in particular we have an increased budget will decreases significantly from next season onward. You sign perms then you are committed to the fee likely over those 3 years, as well as the contract. At 40k/week that £2M per season over 3/4/5 years, plus the fee.
If you loan then you are only committed to that season, and I think ours loans will probably be heavily linked to our performance, ie if we go up we pay out extra.
The big bonus of it, and the reason I thought it would be the way we go is if we have a bad season we're not crippled by the investment. The loans go back, you'll need to sell a few to cover our day to day losses, but you then have the youth to bring through. If it goes well, we could always look to sign some of them like Davies, or even loan again for players out of our grasp, as we did with Hendo.
For me the loans are a smart way to tightly control blonger term cost while bringing in superior players for a fixed period therefore giving Promotion a real good go without risking the longer term future of the club.