Our lack of ability to compete financially makes us seem attractive in a way. "We had no money" actually goes a long way, and especially that season where we finished 5th we gained a lot of new fans. Many people want a team to support but don't want to be called glory-hunters for it. It's weird really. You chose a team because it doesn't win so much right now, but is on the up. But then again, we do not choose, we are chosen, eh?
Their lack of ability to compete logically makes them seem like a stupid club who's lost it. When we bought Lukaku i think many people thought we finally made that step up from "almost good enough" to good enough to be in the top 4. When they bought whatever crap they bought everybody thought that Liverpool was doomed without suarez, and they were right.