I suppose the difference now is the three clubs you mentioned all benefited from the mega TV deal last year while Newcastle didn't. There's no way any of them could have competed with Newcastle on wages two years ago. If Ashley was to accept responsibility for his mistakes in the relegation and put his hand in his pocket then there's no reason why Newcastle couldn't re-assert their position in the pecking order.
Newcastle are in a good position right now. They have a credible manager in charge, who can attract players because of what he has done in his career, who given the money and time will transform the club. However, the manager has enough confidence in his own ability to tell the owner to stuff the job if he doesn't get what he wants.
The thing with Ashely is, he might just think he can get another decent manager, if Benitez walks.