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Arguable. Capello was sacked after winning La Liga. Clearly they did not see it as attractive.
Real Madrid's board wants its teams to be playing the football in the style of di Stefano, Puskas and Gento. Hardly any teams are going to be positive in comparison. Doesn't mean their football under Capello wasn't attractive, though. It may not necessarily be pretty (and I think that is where we are in agreement) but with any successful team, the allure of being successful makes their football attractive.