That's one interpretation Shane. I think Neale's signing is instructive. Here's a young bloke who was plucked from the other side of the country by Bond and his team at pick 58, was given great opportunities to develop as a young player (including being put on the ball at the expense of veterans like Mickey B), he's turned into an elite player, a fringe all-Australian, and probably a top 3 player from his draft, and until this year, has played finals every year of his career. The team has dropped off this year, but he obviously rates the club, and presumably believes Freo can turn it around over those three years. Had he not, he would have at least spoken to other clubs.
But, by all means, feel free to speculate how this demonstrates once again that no-one at the club is competent. But if that's the case, add Neale's manager to the list.