I think you can compare on the model each club runs.
We run a similar model to Liverpool and Arsenal. What I basically mean by that is we are nearing a similar income per year.
Now DL has no wealth to invest. For comparison, I'm not sure how much the Goons or Liverpool owners have invested, on top of income, in let's say the last 5-10years? That as an extra potential source is undoubtedly valuable.
What DL does deserve credit for is building (literally

) that income stream to be even in the same ball park as the goons and Liverpool. He realised early that was the only way to sustain competing, you can smooth out the bad seasons without a noose round your neck. Villa, Everton, Leeds, Saudi Sportswashing Machine etc play that cliff edge game.
And the clubs like Brighton, Brentford... brilliantly run but have a ceiling.
We had that ceiling, financially, but are in a whole different world now.
So we need to spend our money well, align departments as much as possible, and probably land on our feet with a decent manager (which believe it or not, does have a large dose of luck with it).
Arsenal show how difficult it is. Look to be doing everything right...but still win nothing. On the other hand the Scousers, doing things right, and winning.
As trite as it sounds...We keep trying our best, (which I think everyone at the club does tbf and that's probably somewhat down to DL) and hope things fall into place.
And as fans, it might help if we just support rather than moan for the majority of the time. We concern ourselves with far too much. Just let people get on with stuff.