I've just looked at MM's stats on Wiki and if they are correct, he has a 38% win rate with us, and as far as i can remember, we have finished 14th...5th...and 10th in the league in those 3 seasons, and i would say that would be with a fair budget.
Personally, I think the footy is stodgy, lacking creativity and imagination, and uninspiring generally but he has gained a lot of grace from the promotion.
I'm fairly confident he will keep us in the league but,like you, I think we could do better.