I don't understand the point of saying that "we should already be competing with everyone except the top 4". Should we? Why? The fact is we aren't, the finances speak for themselves.
It also conveniently ignores the collection of clubs who are spending a lot less than us, and the like of Everton who are totally skint.
And like Toon Pack says, imagine if Ashley had done proper due diligence and decided not to buy us. Fuck knows where we'd be then.
None of this justifies the name change, but it's pointless to argue against it based on some magical assumption that our finances should be better than they are. Ashley's naivety didn't cause our financial problems, it just meant he made himself responsible for sorting them out.