Essentially yes. Thats just my opinion though, and I tend to go on the balance of probabilities. Maybe he comes in and runs the club himself and sits at most games as you see with Chelsea/City.
I wouldn't be too disappointed if the option outlined above came true though. It will be less glamorous and exciting, probably take a bit longer but also less risky. If the Saudi's are all in on it, they will probably come into an area they know nothing about, lash money about and certainly initially it will probably not work. There is a chance they lose interest.
If you have serious business people, essentially utilising their liquidity in a more measured way when needed, but also demonstrating to them that it's not a black hole but a profitable venture it has far more longevity and less risk attached.
I think I'd be more excited about a measured approach, like you say, it shows consideration and a long term view. We might need to make a Robinho-type signing to announce ourselves as a more ambitious club, but I'd want the core of the squad to be good players who've bought into the project. Might be an unrealistic rose-tinted view of the future, but it's what I hope for.