Concur. While Joe Pohlad is listed on the team's website as "Executive Chair," just above him is listed Jim as "Control Owner," which represents no real change in the power structure from before. I think it's completely reasonable to believe that after 10 or 12 months in that cushy chair starting in November 2022, Joe was asked to present progress-to-plan on his business plan that they presumably all agreed to when he was elevated. The rest of the ownership team was presumably aghast when they saw the revenue forecasts, particularly the coming collapse of broadcast revenue with no remedy in sight, and mandated cuts.
Kind of similar to the situation with Bill Smith as GM after the 2011 season. The rumors that I recall were that his get-well plan involved an infusion of capital to bring in talent, and when he was told no, he didn't back down, and was summarily replaced by Terry Ryan V2.0, who then embarked on a "right-sizing" project of his own. I would infer that in the present case, Joe Pohlad may have tried to persuade the higher-ups in a similar way, to accept some losses in order to build up the fan base, but unlike Smith did back down and thus began the past round of right-sizing that may not yet be the last.
It's all supposition of course, and going with sketchy public knowledge.