It would seem so. You have a manager who has done a superb job last season to keep things together and got you promoted at an absolute canter, keeping complete dignity in the process. Team morale seems to be high, and you look like having an excellent transfer window, with Ben Arfa being the very large cherry on the cake. Compared to just 18 months ago, you seem a different club.
It is, of course, qualified by the fact you still have a chairman who has a track record of being an idiot but slowly but surely, the ship seems to be steadying.