Regardless of the fan base composition and finances, the simple fact is that as a small market team, the Sens, like other small markets, can afford to spend near the cap when the roster is at its best and selling more seats plus adding some playoff revenue, and get down near the cap when the roster trend is low.
You can assume these strategies leave the team positioned to roughly break even on operations annually in both situations, but the owner can see an average appreciation in team value as his financial gain of $15 - $20M per year, which has proven out based on his $100M purchase and current valuation.
The fan base would understand this cycle, if they actually went for it when they have a shot, unlike 2017 where they added mediocre scraps when they lost to Pittsburgh, who always add quality at the deadline, and if the Sens didn't reach the salary floor with IR contracts and filler in the low years.
Properly run small market teams like Calgary, when they bottom out, keep their core top talent around, and clean out the middle tier short term contracts to save money and lose enough to get reasonable draft picks.
Cheapo nickling and diming on both ends of the success meter is what pisses people off, along with his comments.
Who in their right mind would keep buying seasons tickets in years like last year where they had Tkachuk, Chabot, and a bunch of kindling? At least in 2018-19 they had Stone and Duchesne and the few youngsters to watch while they were losing.
By the way, in the last 3 seasons, the Sens have 71 more losses than wins. 82-153. That level of crapiness will see StooEuge's golden media contract egg reduced big time next negotiation, you can be sure. I imagine the ratings have dropped similar to rink attendance.