Because everyone reached the wrong conclusion. They all seemed to think the issue was that Woodward was going around buying players on his own whim - which never actually happened. The issue all along was, Woodward trusted our inept managers with 100s of millions - and they all just doubled down on it even more.
Literally the media, fans were all in the frenzy that we let our managers down with Woodward and co doing whatever the feck they want. The issue all along was, they let incompetent managers loose with £100ms every summer.
Even back then, our better long term signings were driven by the club (Herrera, Shaw, Martial) and the most damaging ones were driven by managers.