Hm - that might happen yet, though UEFA could be saying that we had four teams, one of whom didn't win any matches. That's a bad result, on top of €250k minimum coming into the LoI.
Feel sorry for Drogheda fans obviously, especially as they're not (and really never were) European regulars by any stretch. But Christ the owners have dropped the ball here if this does come to pass.
Edit - on a similar note,
Crystal Palace's majority owner is currently trying to sell his stake to get around the same issue, so they're taking it fairly seriously too. Why Drogheda's owners haven't done the same thing, I don't know. Maybe no-one to sell to?