The problem you are missing is that "it" probably doesn't exist right now to spend.
Arsenal, a much 'bigger' club, with deeper pockets and more resilience, has just made a whole bunch of staff redundant, citing the effects of the pandemic. King Power has gone through the chaos and uncertainty of Vichai's death (which is a major business issue because a lot of their status and success was based on his personal relationships with people in power in Thailand and elsewhere) and now international air travel has been decimated. Airlines are going bust, there are redundancies everywhere. Have we heard of any redundancies at LCFC? Anywhere in the King Power empire? VIchai and Top talk about their business empire as a family, and while that kind of talk is usually complete guff, they do seem to take seriously the idea that they have an obligation to 'take care' of the people who make them rich. Which means they're sticking with them when times are hard. No lay offs. In the same way that their players who at other clubs would be getting moved on sharpish are here getting contract extensions. That's part of what we like about our owners, but it comes at a price - and the price is that right now, it really seems like they're not in a position to over-extend themselves in the transfer market.
I'd prefer us to sign three or four players this window, but (with the exception of Chelski, who have unique circumstances) no-one is doing that this year. So my second preference is for owners who take care of the staff we already have commitments to (playing and non-playing staff), and accept that they can't choose this year to "break the bank" on a marquee signing - because the alternative is the Cardiff / Hull City experience, imploding finances, and a long period back in the lower leagues. Look at the investment in the training ground, and in the stadium, and accept that missing out on the Champions League has consequences.