To be honest mate. Your post is provides more evidence, then not. But it is quantum mechanics as you say, both unknown things can be true.
We didn't spend anything so we don't know if we even had a budget. If we didn't have a budget to make signings, then nothing else really matters.
My opinion is that fan protests have had no impact on recruitment or team performances. We were actually worse earlier in the season before the fans starting to make their voices heard.