I think your view is fair, but the worry of looping in perpetuity has to be there as servicing one area of the pitch then leaves others thin unless we get a breakout wave of graduates supplementing us in those weak areas.
By this, as an example, say we genuinely put together a package for Haaland, but at the same time lose Pogba; with our outlay per window, the pursuit of a replacement anywhere near Pogba has to be rolled over to the next summer, if not farther, in the meantime, our other players of quality may have their head turned or become disillusioned with the inert state of gaining to lose, or losing to gain (whichever way is still a loop that's practically inescapable), which is a frustrating state to be in, particularly for a fanbase.
What's stuck in the craw for a lot of people is this was a window in which we made ground on City and were ahead of Chelsea, seemingly, only for our work earlier in the window to be top-trumped with us now appearing not to address a serious flaw in our 1st team, whilst those around us are still, even now, strengthening further. So not only have we not closed the gap, we've not even remained equidistant to last season and have instead seen the gap widen.
In terms of organic growth, I can see where you're coming from, but the picture painted in this most inorganic of times is that we're not going to challenge for the title barring a miracle class of unders coming through at the same time, or waiting for Pep to leave or both oil clubs slipping and needing to rebuild at the same time (see Leicester's fortune); I personally feel this is our best chance to give it a go, should we get a proper midfielder in before the window shuts, as next summer so many headaches in the first team will be in need of address.