When exactly? last season they were nearly relegated. They haven't threatened the top 4 in a long, long time prior to this season. In terms of players bought they clearly did well with Mahrez, vardy and Kante, but outside this they have more maximised potential of average to good players. Do you think Simpson, Drinkwater, Morgan, Huth will be snapped up by Barcelona?Why? They've done it more than once. I don't get why the logic among English clubs is you have to spend £100m to get anyone decent in.
Show me a team in the premier league who has maintained top 4 status (let alone title winning form) on a small budget? In the past 4 years Chelsea and United dropped out of the top 4 the season after winning the league, even with vast resources its hard to maintain that type of form.
Expecting to continue picking up bargains isn't sustainable and even if they pick up some great players they could easily face an injury crisis with the increased games and travelling. History suggests this will be a one off with the established elite coming back strong.
I'm not saying this is a great way for the league to be but being realistically they will struggle.