This is my guess and it is based on the subtle wording that Guardiola gives in interviews when asked about the future.
As for dominance in the Premier League, for us ordinary fans it looks like a cool achievement, but the sheikhs are ambitious guys. They created literally the most expensive club in the world but have not been able to get the main trophy for so many years. Do you really think that their patience is endless?
It seems to me that they do not care about statuses, reputation, etc. the most important thing is the result, at the moment it is not there and if it is not after the purchase of Haaland, then Guardiola will be fired.
Yeah it gonna end at one point but they also have to get a better one that Guardiola. Guardiola might not be helping them win CL but he is atleast getting them fair chances in other competitions and winning most of them. I think the board feels like they have gotten a great manager and he is gonna win them CL at one point and I think so too. They might be unlucky right now but with the way they are signing players and making their team strong, I think they are gonna get CL at some point if things goes like this.
There is a more epic coach on the market - Zidane. It's Mr. "Get the Champions League as many times as I want". I think one way or another they will be able to persuade him to lead the City. In addition, Mourinho seems to be regaining the status of "special one" and if he spends this season with Roma again successfully, then they can invite him. I'm sure the sheiks won't wait forever and give Guardiola endless chances.