It shows how a narrative can influence opinion. The narrative is PSR is to blame for everything, they're on the verge of kicking on but can't because the rules are protecting the status quo. And whilst that is true, the reality is they've spent a lot of money and given out ridiculous contracts to players who aren't really up to the standard they're aspiring to, leading to a 93% wage to turnover, blocking them from spending further. They haven't been able to invest further, the squad has stagnated as they'd gambled on qualifying for the Champions League, results reflect that and the manager takes the blame.
In reality, I think Emery overachieved in reaching the CL then getting as far as they did and the blame should lie with their recruitment team.