It certainly is. However I think people have it arse about face - I reckon Wenger is actually doing well to keep things going and its the board who are most to blame. His job is to be the fall guy for their policy and keep us in the CHampions league, nothing more. Hasnt been for a while either.
The 'sustainabliity' model is a chimera too. Think of it this way - Arsenal geenrates a load of value, through its property investment, gate receipts, TV rights etc. The stakeholders are basically the fanbase, the shareholders and anyone drawing a wage from the club, most notably the players, manager and certgain directors.
All those people have been rewarded except for the fanbase who are basically being bled dry. And dont give me any of that 'we never took a dividend...plurality ownership' cack either. A small coterie of shareholders have made out like bandidts and taken it all as a backdated payday when they cashed their shares in (I'm looking at you, Dein/LAdy Nina/ Fizsman estate). Even now they are looking at planning permission for a new tower block and flats on Queensland road before they look at spunking money on players and - heaven forbid - trophies. Face it - Arsenal is a property / merchandising outfit with a lossmaking football club tacked on as an afterthought.
So, agsint all taht, if the board have only reeally wanted to spend the bare minimum on sporting success to keep things on an even keel, Wenger has done a fantastic job. Its not until fan unrest redresses the balance at elast partway towards the fans again that those incentives will change. When they do you will see us show more 'ambition.'At taht point wenger wont have to put a brave face on and talk about how young the team is. He wont need to - we'll be recruiting men instead of boys. Personally I think we're close to coming out off hibernation and Wenger'ss still got it. I do think he has used up his goodwill and cant push it any further though.