Back before it all went down the drain, we had Laudrup as coach and a host of great players such as Agger, Elmander and Kahlenberg, who were all off to have various degrees of successful international careers.
Laudrup left along with most of our stalwarts, and we gambled on the manager front taking in people like Meuleensteen (?) who was assistant coach for Ferguson at Utd. That never worked out and all the coaches since him flunked equally bad. So, so, soooo much money was thrown down the drain on terrible transfers and that has been the pattern for around 10 years now; wrong managers and bad transfers.
Now we've signed Zorniger (?) for next season, a former Bundesliga coach who lastly flunked terribly with Stuttgart I think. His philosophy sounds interesting though, if somewhat naive, and we've basically signed him for 2 years without the option of firing him, so at least there's now a chance for some continuity. Economy is terribly, though, so I doubt we'll be able to afford the players he need to overhaul the squad for his system, so I'm not exactly optimistic for the near future.
Only bright points being our good youth work and steady fanbase. Those two factors gives me at least a sliver of a hope for the long run.
We (Brøndby) reportedly was close to signing Emre Mor 1½ years ago - those 10M.€ (fee from Dortmund) sure would make a difference right now
I think the problem have been that changing investors have donated so much money that they wanted a say in how the transfermoney were spent, that went horribly wrong time and time again (with expensive players like Farnerud, Jan Kristiansen etc.). We even saw it recently with our chairman wanting (and paying for) Agger, but also Elmander, who clearly wouldn't be a powerful sportsdirectors choice.
But as you say, the fanbase will always be there no matter what, and at least some youthplayers are coming through right now, and the situation is much much better and stable than 3 years ago.