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The above analyses spends better than most articles you'll see on the matter. Transfermarkt is widely cited but few put in the effort to look at the impact of spending objectively. It's pretty simple but more complex than commonly discussed. The G.Nev take on net spending.
No arguments on cituae, pl, uefa, ffp, cas.
Essentially Pep took over a beefed up squad at cituae with many young talented players, and spent more than Klopp.
When you say our squad was always weak in depth, that's contentious as I see it.
1) the squad depth got Klopp his domestic successes in his latter years.
We won domestic cups thanks to Taki, Divock, Jota. Divock v Barca alone and an iconic nerve settling 2nd goal winning number 6.
2) if your limits are set, you can always have operated differently with hindsight reasonably applied.
Like Mane 30 odd mill, Keita, Firmino, Ox, Origi, & Gini brought in 30 odd mill. Thats a disaster for net spending.
Not unreasonable to think 100, 15, 75, 10, 15, 20, Total 235 mill would have been better moving on a little earlier and re-investing.
In our Almost quad season, ultimately it came down to 2 games, a must win v cituae away, we drew, and the CL we lost. Hard to blame the lesser spotted players for either of those 2 games as I recall.
In the CL loss we started with a strong 11 with Keita, Firmino & Jota in off the bench.
In the 2-2 draw v cituae we started with a strong 11 with Keita, Firmino and Diaz coming in off the bench.