To many people, results are all that matters and the 5th place probably counts for loads to them. They presumably also buy his comments about injuries and the Europa League based on reading the paper. And though you and I may believe he's completely complicit in the decisions made above him, I would guess that most people believe he's been shit on by the board.
You're spot-on but the fact remains they're deeply wrong about all that stuff though. Can lead to some frustrating conversations.