Legally at least, after an 18-month investigation, i agree , and several were charged with manslaughter, and prosecuted.
Not just Oxford of course, but the fans of West Ham, Derby, Norwich, Coventry, Luton and Wimbledon can all reasonably say they were denied the opportunity to see their best-ever XI compete at Europe's highest level. Southampton and Wednesday, outside the traditional powerbase, were also denied European campaigns, just not their first.
Only Norwich that I can think of made it after the ban.