I get what you are saying mate, but the facts over a massive period of time prove this very point, the collective wage bill does equate to league standings....not 100% all the time...and always the odd exception.
Even in each clubs wage bill, you have as many under-paid, as over-paid, so balances out.
If the data provided on here for the club salaries for 2025/26 is accurate then there is not really that much in it between Bournemouth in 17th spending circa £62 million a year to Everton in 10th spending circa £78 million a year. Crystal Palace are 12th spending circa £76 million a year, West Ham 13th spending circa £74 million a year. Brighton 15th spending circa £69 million which is less than £10 million a year than Everton.
Man City top spending circa £235 million a year with the likes of Arsenal, Liverpool and Man Utd all massively exceeding more than double the annual salary spent by Everton. Forest are 9th spending almost £10 million more than Everton a year and then the big gap really to the big 8 with Newcastle coming in at 8th spending circa £116 million - almost £40 million more than Everton a year.
Based in annual salaries Tottenham are the massive underachievers, Newcastle and Forest also performing well below their outlay. West Ham have been disappointing as well. Brentford, Bournemouth, Sunderland and Brighton are all overachieving. If you add in net spend over the past 5-6 years then Tottenham are having a truly shocking season as they have outlaid hundreds of millions more than Everton.
Based purely on annual salaries any where between 10th-13th would be a par season. But then Everton's net spend over the past 5-6 seasons will be hundreds of millions less than a lot of other teams and this is a factor that has to be considered as well.