Lyon being bad is definitely something historically sad. I watched them dominate this league when I was growing up, during my college years Lyon was the best team and they had some great European games as well not just France, and unfortunately financial ruin caused them to never recover.
I feel like they need to do better though, they have income, and they are spending way too much on player salaries, if they could get younger players for cheaper, then about a 50-60 million salary spending would be possible and they could pay that easily and then get out of debt. Sell some stuff that they own too, whatever they can, it would cover some of the debt, just like how Barcelona sold some stuff to pay the debt and get some players.