Well, no. There have been several opportunities to push on and make the most of the squad, all missed. Sign a player, sell a player when keeping that one would have made the team really strong.
Everton this year have shown that with organisation and a style you can overachieve. Atletico Madrid as well. Dortmund have, too, in recent seasons. While both Atletico and Dortmund are 3rd/2nd highest spenders in their own leagues, they both spend less than Fulham and QPR. Obviously the finances are higher in England, so saying 6th highest spenders in wages is still a lot, but it's not the be all and end all either. A proper coach, a system that everyone buys into, and smart scouting/signing makes up for lack of spending power - certainly short term.
Spurs are doing well at finishing 4th-6th, but if they want to get beyond that then something else needs to happen. A proper manager with the full support from the board would be a start.