I understand your reasoning, GF, and to some degree I thought it was a bit far fetched also.
However, having gained promotion, Hallett then had to try to keep the supporters onside and give them an insight into what the club were trying to create. He had to project improvement year on year, an illusion, if you were, of what the future may hold. Theoretically, it was feasible, and it kept everyone onside. It was something to hold onto and become a target for the future. The club had to be positive or it would lose all goodwill from its newfound supporters and gave the club something to try to achieve.
However, having now experienced the football in the Championship, I think that we can say it was over ambitious and I suspect it will become a little embarrassing for Hallett in the future. It will be a challenge to stay in the Championship, with the financial challenges that it brings us, either now or in the future.