The Donalds had the guts not to speculate to accumulate. We had zero debt until Milne came on the scene.
It's a question of how much you're willing to speculate. Hearts speculated significantly in the early part of the century and went bust, winning only a couple of cups in the process. Would that be the level of speculation? Operating regularly with wages more than turnover? How long for, and to what end? Would you agree that using hearts as a benchmark, we'd likely have to spend more than they did? What does speculate to accumulate even mean in the context of the current spfl? Would you be willing to accept gradual progress, or do you want it right now?
You see, the problem that you have is the accumulate part of the equation. The level of speculation required to win the league is far more likely to see us going bust rather than to accumulate returns. The Huns are running at a ~£10M loss yearly and haven't yet reached the champions league - i.e. there has been no accumulation. Do you really want the Dons to carry that level of debt? I don't.
But let's be honest here, you're not asking us to speculate to accumulate at all. You're asking Cormack to spend his own money, at his own risk, chasing a goal with extremely long odds very little return. Just be honest.