Melbourne, there are always exceptions to the rule but you are wrong about infrastructure. The point is that if you have a modern well developed stadium with facilities that produce revenue every day all the year you (a) have a stronger business financially (b) have more spending power for players (c) have significantly better prospects of attracting the right sort of owners who don't see the club as speculative or vanity project or a bucket. True, this guarantees nothing if you have a duff management team or owners who have no ambitions or plans but the chances of success on and off the pitch are that much better.
Fair comment, I must concede it does improve your chances as you say.