For me, Europe is more important than finishing third next season. Obviously you want to finish as high as possible, but without the guaranteed group stage place, third is not as big a carrot.
Europe provides a big chance for us to earn significant funds, it's a shop window if we're selling players (and we are a selling club), it's a showcase to others to come and play for us, and it's a chance for us to grow our own coefficient (the club one) to help our seeding in future.
All the players say that getting European football was a big thing to them. Palaversa, Polvara and Clarkson in particular were vocal about it. It's why Knoester and Tobers came here. It's a stage we should be on more often and it's a shame that after this season it'll be more of a challenge to make the groups.
If it's the Europa League we reach, then being competitive likely represents a good campaign. If it's the Conference League, we could still end up with a horrible draw, but there is more possibility of progressing beyond Christmas (should be noted Hearts' group was particularly easy, doesn't necessarily mean we'll get as "lucky").
I think if we finished fourth, did well in Europe, and as ever give the cups a good go, then that's a decent season.
If we were top three, made the knockouts in Europe, and claimed another cup, then it's time to start designing the Jimmy Thelin statue.