What's right, what's wrong? What are the rules in this case? Indeed, as you point out, what are the exact facts? We don't know the detail. We do know Arsenal mucked up in August (at least by general consensus) and that did City no favours. We have to wonder if City could have sealed a deal in the summer by offering Arsenal some more money and, as we have discussed, we don't know what impact Sanchez would have had if he had come to us then; we do know we have so far managed without him.
Going forward, we don't know what the outcome of him going elsewhere is going to be, and that may be unquantifiable, but the likelihood is he will benefit our nearest rivals, possibly significantly. Both clubs though can afford to buy someone else of high quality. However, yet again, we have missed out on a big name and "let" him go to a rival. For now, I have to chalk that up as a fail even though we appear to have done things as we have for good / noble reasons.
Ultimately, the fact that our club is building a way of doings things on and off the pitch as part of a clear strategy will hopefully pay lasting dividends and The Rags apparent let's throw money at the problem, without much of a coherent plan (?), will see them slowly slide back. Thing is, I have been supporting the Blues for almost exactly 50 years so I'd like more success now.