Yes, but Ferguson had already broken the Old Firm monopoly and won a European trophy with Aberdeen. Lee Sinnott won the play-offs with Farsley.
The problem with using Ferguson as an example is it can justify keeping any duff manager for at least a couple of seasons.
But taking into account the different levels, they're comparable, aren't they? By absolutely anyone's reckoning, three promotions in four seasons - including one into the Conference - is a hell of an achievement for a Non-League manager. Big name though we are at this level, we can't attract people who've proved themself by winning European trophies. So we have to take the best options open to us. Sinnott seems like a prime example to me.
And there are examples beside Ferguson. Moyes started well with Everton, saving them from relegation before following up with a top half season next time out. But then to all and sundry it seemed as if he was taking them backwards. They finished 16th the next season, including getting battered by an average Man City side 5-0 on the final day. But with the chairman backing him (possibly more through financial constraints than judgement - who knows?) the club persisted with a good manager and ensured there was a sense of stability and continuity around the place. And all things considered, it's worked out brilliantly for them on the pitch (even if Everton are slowly going bankrupt off it).
The board will have a better idea of Lee's qualities, dedication, medium to long-term plans etc. If they decide to stick with him, I'm happy with that.