IMO, there is enough blame to go round from top to bottom, starting from the Glazers and down to the players and supporters. At the end, I think most of the problem stem from incongruity in objectives, expectations and actions.
Looking from bottom up, supporters expect the team to win and play with style while do so. To do these requires a squad with top quality and depth, and a manager that can get the best out of the squad. Given the state of the squad, that requires overhauling and addition of top end talent over 2-3 season, and periodic updates subsequently. With the current market that requires a lot of money, and while Ed might not have the network or skills to get the lower pricing that a more tradition football director might get, I doubt he has that much money to throw around as well. Thus it is up to the glazers to see if the money spent is being spent judiciously or that the hiring of a football director is needed.
But when we look from the top, the Glazers seem to view the club as a profit making venture like their other sport teams, but that is not true in the modern game. It is practically impossible to run a profitable football club while winning in style. (The amount of money spent by Pep in the past seasons is evidence of this, while the decline of Arsenal is another . Even Roman is balking at his club's demands). Sh*t rolls downhill, so the position of the Glazers pushes the buck down to Ed, who cant do much with the limited resources, and has no choice but to short change Mou in the number and quality of players added to the team. This in turn reflects in performance on the pitch.
At the end of the day, until the objectives of the Glazers and the expectations of fans align, there will be this disconnect that will eventually show on the field.