Jon No - in so much as they lost Rashford and that other loan player on big dough plus sold a few others and have only bought in Sancho (you'd imagine Man U paying a lot of his wages) and one or two others. The money they got for Ramsey went straight in a black hole apparently.
I've been reliably informed by a Villa friend as I too thought things seemed odd - they have a 400m revenue target and are nearly there by all accounts and if they achieve that seemingly in a good position to compete with the big boys. If they survive this season.
I would imagine they will chase Europa hard.