Sorry, that's nonsense. If the league don't note anything other than who wins a championship or runners up trophy, how would they know who to relegate!
Your original post said 'He hasn't delivered anything of note in 2 years', which (in my humble opinion) is not true. It seems to me that third this season behind two team with their own grounds (and the income derived therefrom) and in front of everybody else is noteworthy. There's a big difference between that, and meeting individual's own expectations/desires, which are no doubt less objectively measured.
Coming bottom of the league is noted with relegation.
The first team management decided to use its limited resources to go all out for a playoff place. Now I chose to interpret that as promotion and not winning a single cup match tended to confirm that deliberate focus. To put all your eggs in one SoB basket and fail is in my book still a failure. Imagine having lost in that penalty shoot out @ Harlow?
Now if promotion was never the intention from achieving the playoff place then the objective of the Board might have been achieved and yes I would need to apologise for misunderstanding the intentions of the club. I had hoped we were sincere in our desire for promotion.