I think you can argue that the ownership thing is far more than just money - if your owner is a life-long fan, from a family who've been involved with the club for decades, it's not quite the same as being owned by an oil state.
There is some truth in that, but really that's just the straw we clutch at to try and sound morally superior. Ultimately it's the money that buys you what we have and what City have. I've been a fan since 1966 but if I owned the club we'd be playing on Preston Park in the Sussex Sunday League.