Newcastle can't be competitive for the Champions League much for now. Maybe they are one of the richest teams in Europe but they still can't make their squad one of the bests yet. It isn't an easy task to convince big names into their squad despite qualifying for the Champions League. They need to maintain consistency in the Premier League first.
Once they convince bigger names with their performance then they will able to bring that kind of players easier. Those players are already playing for top teams in the end. Newcastle will need to give them a reason why to join them instead.
I don't think so, in fact Newcastle have done the right thing in my opinion, they are not focused on buying star players and buying some players that are needed by the team and it was proven last season that this team was built very well so they could finish in the top 4 standings and get a ticket to the UCL.
It is indeed difficult for them to be able to compete with top European teams on the Champions League stage next season but that does not mean they can be taken lightly, and I think that now the progress of the Newcastle team continues to be positive and allows them to become a stronger team this season upcoming season.
Correct, we should not underestimate Newcastle because they do not have star players, they have shown themselves that they were competitive enough in EPL last season. Interesting fact, they lost 5 matches only last season which is the same number as Manchester City as well as conceded the same total goals as Manchester City. It means that they are good enough in defense. For CL, adding more players is obviously good because they will have more games to play but they dont have to buy expensive star players. Collectivity of the whole team was their key to finish in the 4th position last year. The question is, what is the target by the owner in the CL? If the owner want to go as far as possible, yes they need to buy some more players. At least players who are experienced enough in CL.