Like I tried to say last time, you can take money out of the club in more ways than profit extraction.
Ashley did it mainly through austerity - stopping the club spending revenue it created itself - instead giving deals to his other companies that would have otherwise cost millions for free, for years - and stopping it increasing revenue in the process. Then through not spending on everything from infrastructure, maintenance, hospitality, hires, wages etc - everything basically, but also extended to him trying to withdraw us from the Europa League because of the risk vs reward not being worth it.
When the club was relegated TWICE due to his mismanagement and lack of investment the loans he funneled into the club (remembering that he'd saved money through no advertising costs etc in the first place) to protect his asset were spun as something we should be grateful for rather than a consequence of his own destruction of that asset. Very easy to call it "his" money despite him withholding money the club should have rightfully had in the first place.
When the club returned to the Premier League and made money through being on the gravy train, selling players etc it was used to pay himself back.
Austerity is a method of extraction that's a lot easier to spin as something it isn't while being incredibly destructive.
And just for good measure, he also did it explicitly anyway, using the club to give his other businesses interest free loans that hampered our own bottom line and ability to spend money the club had generated.
That's the tip of the iceberg. Any attempt to be better was met with acrimony and dismissal. Good manager meant no budget and them going, bad manager meant spend enough to finish 17th.
With Ashley there was no chance whatsoever of success in spite of him, let alone because of him.