Bruce was appointed in July 2019 by Ashley. The vast majority of Newcastle fans had been urging the hated owner to "do the right thing" for once, as they saw it, and negotiate a new contract with Benitez, who was both popular and respected, and who had also done a very good job. When it was announced that Steve Bruce was to succeed Benitez Bruce instantly became a massively unpopular figure. He was certainly not the top flight, internationally renowned figure the fans believed they needed and whom they deserved. His record in management did not mark him out as a bad manager but it didn't mark him out as a good one either, and not one who was likely to take Newcastle (back?!) to the top. The most unpopular owner in PL had managed to appoint an equally unpopular manager and recovery proved impossible for either. Bruce's record at Newcastle was exactly what was feared: in difficult circumstances it was not bad but it was not good, certainly nowhere near what the geordies craved. But he and his owner ploughed on until Ashley realised his long held ambition to sell the club - first put up for sale in 2009! - and this really sealed Bruce's fate, though Sunday's mauling at the hands of Spurs really was the final nail. What the Saudi owners needed above all, and what the fans want, is a sign that the Ashley era is over, and, as Bruce is seen as his creature, Bruce had to go as a sign that a new era has really begun. The owners have to make sure that the PL don't bugger it up for them.
So, right, wrong, Bruce's qualities as a man or the size of his pay off are not the issues. This is the way football works.