Yes and no.
Yes that the Celtic supporters have been so engrossed in Rangers that they've taken their eyes off the ball in terms of supporting their own club.
No that their club has slipped in standards and is downsizing. Slipped would suggest something that has accidentally occurred, whereas Celtic's recent frugality has been very much deliberate. They've had no real rival for the Premiership title, so have no need to spurge cash domestically. Of course on the park Deila has been a magnificant failure in Europe, but I'd surmise that CFC would have budgeted to qualify for the Europa League and had they then made the UCL group stages they'd have started spending money.
When Rangers get promoted, or if Aberdeen are well ahead come January, the Celtic board have money in the bank that they can throw about in order to put everyone back 'in their place'. Of course money doesn't necessarily guarantee you success *see Rangers in 2014/15* but if it's used wisely in Scotland then it pretty much will.
But you get a point for having a go at Magee anyway, so well done.