Correct, in which they brought in and integrated 2 players (Vardy and Mahrez) that were playing lower league football and would have not even been considered "marquee signings" even by Scottish Premiership standards.
It was Ranieri that saw the opportunity to play the way he did utilizing the tools he had available and in doing that, performed the impossible.
It'll take a few years but with the right manager and playing style, Rangers can win the league.