Yeah, had Carpenter hung around the team probably would have been sold to Comcast, if he'd even made it that long (they bought the other teams in '96). Dunno if Middleton Sr. would have had the interest at the time.
I don't know that Ruly gets entirely off the hook though. Giles was part of his culture/legacy, as was Dallas Green. The genteel and "family" nature of the organization, considered (rightly) a plus by many players and employees but not necessarily for winning, started with him. The accountability of a single owner might have been better but it still might have been Giles' team for many years, just as President only.
Alas, neither his billions nor his de facto decision-making autonomy has done much for Middleton so far.