Only Real Madrid and Monaco spent more than the North London outfit during the summer in Europe, with the likes of Paulinho, Christian Eriksen, Roberto Soldado and Erik Lamela all arriving at White Hart Lane for significant transfer fees.
However, a number of Villas-Boas's big-money recruits are yet to yield the type of form justifying their price-tag, with the team scoring just 15 goals all season - three of which have come from the penalty spot.
Davids, who enjoyed a two-year spell at the club under Martin Jol, claims to dislike watching his ex-team based on the brand of football played by the former Chelsea manager.
Speaking to Absolute Radio, the Netherlands legend said: "To be honest, I don't like watching Spurs. Do you know what I mean? How they play, I expected more. And if you have a manager that says he wants to play attacking football...
"I loved to see Everton play against Arsenal last week. I was like "Woah, I hope it's not the first time for Everton that they play like this!" Because I think it's a good thing.
"If I see Tottenham play, I'm not that convinced. But at the end of the day it's all about results."
Davids is currently at Barnet.