Unfortunately mate this is hyperbole and part of our pessimistic psyche that does us no favours. All the smaller clubs that have been relegated and then promoted back to the PL yet we are convinced we would freefall? We will have a massive income compared to all the championship clubs and hopefully a clean slate to work with. It might take a couple of years to rebuild and we will have to be patient though. We really have to shift this mentality that relegation means death for us. It is this that helps drive bad short term decisions.
The board have also not taken their eye off of the footballing side to concentrate on the stadium, we wouldn't have had 3 different managers and soon to be 7 managers (8 if you count the caretaker), all backed with as much money as the club can spend within the PL's regulations. They have tried to scratch and claw their way out but every combination hasn't worked. This is partly because all the decent players either won't come to us or want silly money to do so, which then means we ate stuck with them when they decide they are going to put their feet up. Clearly they've made some bad decisions but at the same time they made some reasonable ones too.
Evertonians have a problem spending half a billion to go backwards but if money was the easy answer then utd and Chelsea would be first and second in the league right now having spent way more and from a better starting point where the club has pull and a better base line of talent. It really doesn't matter who we bring in as it's always he's not experienced enough, he's too old, we paid way too much for him, why are we scratching around looking for cheap buys, they've come from relegated clubs so of course they are crap, we can't have big club cast offs...