He used a comparison with the star-studded nine-in-a-row side he plied his poaching trade with to underline the point that his side are very much a work in progress.
While the Gers' gaffer accepts his class of 2013/14 have the second highest wage bill in Scottish football, he says that is no guarantee of winning silverware with style.
McCoist said: "I feel that some people - not everybody - are failing to distinguish between the club and the team at the moment.
"For example, if Albion Rovers had knocked us out, or even the draw against Albion Rovers, it's an absolutely shocking result against the club. I've got to be very careful because there's no way I am going to criticise those boys because they are doing a fantastic job for us.
"But the fact of the matter is those boys don't contain a Paul Gascoigne, a Brian Laudrup, a John Greig, Willie Johnston or Colin Stein - we don't have that.
"What we have got is a fantastic squad of boys that are learning about the club.
"They are learning fast by the way and we think, particularly in the league, they are doing more than satisfactory.
"I just feel that sometimes people are finding it difficult to distinguish between the two entities, because they still see the team as the club.
"At this moment in time, I don't think that is right, because I think the team should still be given an opportunity to develop as a team and then take the next step up."
McCoist continued: "Rangers have always had a higher wage bill, along with Celtic, than all the other teams in the country.
"But I think it is too simplistic to look on it that way. As I said before, Manchester City would be Champions League winners five years out of six. And we're looking at Manchester City losing at home to Wigan.
"The financial side of things is not that simple - it just doesn't fit in that way.
"But I totally understand it's been thrown at us - the second-highest wage bill, which I accept, because it is."