During the Souness/Roeder era's, I honestly felt that "ah well, we've fucked up but one solid season of rebuilding and we'll be in the top six."
Now? The best we can hope for in the short term right now is consolidating as lower-mid table club like Boro or Fulham. There is no light at the end of the tunnel.
Barring something truly extraordinary, like a billionaire takeover or somehow stumbling upon the next great up-and-coming manager, I simply don't see us breaking into the top half any time in the foreseeable future.
DISCLAIMER: No, I don't believe this has anything to do with change in ownership. Don't even try.