That's exactly it yes.
I can't say I ever really noticed it with Swansea before, but it's quite ridiculous playing now with Newport and I've made it all the way to pushing for promotion/playoffs in League 2 and still being told I can only have 1 coach.
Whether this is to do with the reputation of the club, or finances I do not know.... but it can't be doing the squad any good in terms of training.
As I said, I do have 4 coaches simply because Newport start with two youth coaches and a goal keeping coach (that is also a player) and one regular coach.
The problem is, if I sack any one of those I can't higher a replacement because I'm too far over the limit. The ones I've got are awful compared to the coaches and staff that are available to me
Normally if it says you can have 2 coaches, you can have 4. Or if your Utd and it says no more than 8 coaches you can normally get away with say 14 or so.