I think this is mostly accurate, but I see a 3rd piece I'd add in that the Cowboys are just fine where they are at. I think as long as they are winning double digit games every year and dominating the ratings they are perfectly fine with or without playoff success. If they don't take the big risks in free agency they'll never get over the hump, but they'll also have spending flex if something goes wrong they should be able to dip into future funds to get things back on track.
This seems to be the Stephen Jones way of running the organization....He doesn't know how to build a championship team so they sacrifice a higher standard and make the goal consistently being in the running instead of winning championships.
The frustrating part of that is that it makes sense to run an organization that way if the priority is maximizing profits and branding, and I think this is where the root of fan frustration comes from, it just gets taken out on the star players, coaches, etc.