Players can always make it seem like its not their fault, though personally I think Moyes is significantly to blame, not entirely but, I don't think his buys have been outstanding, buying big on Saha who was a serious injury risk was daft, and yakubu was daft, sure he's playing well now, but he's a lazy git who gets bored after 6-12 months and then does nothing till he gets a new contract or a move.
Billy seems pretty good every time I see him, which is rarely and I'm not sure but, has he ever got a real run in the team like 10 games or so relatively in a row, say starting 10 out of 15 games or something. Playing Arteta as a DM almost was daft, but then Arsenal do that now as well.
As for the cost of Everton, I think you guys need to realise how MASSIVELY profitable being in the premier league is, debt or not 150mil is cheap for a premier league club. Just because other clubs have been either desperate to sell or in deeper trouble doesn't devalue what Everton can be worth with a bit of investment.
When you talk about business on that kind of scale you're talking about 15mil profit a year over a 10 year return to pay back the 150mil outlay, people buy businesses to return a LOT less than that over a much bigger length of time.