Depends what was bought with the £85m. Turns out the money spent to go up was enough, but the market has changed significantly from one summer window to the next. Had we not got £80m from Sissoko, Wijnaldum etc. there is no way Ashley would have allowed £55m to be spent. Had we not got promoted we would not be spending again, look at Aston Villa's lack of expenditure thus far.
Man City have already spent £155m on players, £69m on right backs alone. Without taking into account the inflated window you would think that from where they were, such expenditure should deliver the title, but they're still not the favourites because of who they've brought in.
This isn't about fees paid for players, it's about standard of players brought in. Benitez bought 11 players for the Championship campaign, and (as has been repeated on here often) he'll need to change the squad again now that the team is in the Premier League. I saw someone say he should have bought young hungry players that could make the step up into the Premier League. Well that's great in hindsight, but it made total sense to build a side that would deliver automatic promotion, and worry about the squad for the Premier League once that's assured. Had we bought younger unproven inexperienced player we may have crumbled under the pressure of being favourites in nearly every game, of meeting expectations, of a long tough season.
If you'd said Ashley will give Benitez support in only 2 windows to get us up and keep us up I'd be concerned. If we end up spending another another £50m (we won't) and that delivers us safety, then it's money well spent as it's immediately paid for by the TV money. You seem to be implying Benitez has bought poorly, or that we're being reckless with the money? Neither of these are the case.

sorry, bit rough this morning.