Silly nitpick but I think a better analogy would be the coach takes the blame for bad ownership decisions.

In my years watching sports coaches are almost always the first one to be made the fall guy and I've witnessed plenty of situations where I can't really say they're the one at fault. There are two simple reasons in my opinion. Teams invest WAY more money in players so they have to try to commit to them even if the player is potentially not good enough and owners are never going to go "wow I made some bad decisions I should sell the team". All of this is to say coaches are the cheapest and easiest ones to pin the problems on.