Why would the next two transfer windows (of the three, including this one identified by Jim as needing to be used to put right "past recruiting errors & excesses") be any more successful than this one? We haven't landed a single target. Presumably, we'll continue to "avoid panic buying & purchasing for cosmetic reasons" & we'll continue to fail to recruit.
"While the financial realities and economics of the modern game make essentially every club a trading club, we have managed to preserve strength for the future in this window." - "we have not traded away top talent." No, nor have Gillingham. Nor have Walsall. Those are the sorts of clubs we're on a level with. Or we would be if we'd got 11 to 12 more points than we have now.
That said, no blame attached to Jim IMO. He's just doing his job. It's his employers that are the problem.