Hmmmm - last year pre-season, many on this board we worried sick about Spurs, Barcodes and City with all their new signings, they had all "improved" their squads beyond what we'd done. Many predictions were that we'd be lucky to finish in the top 8. Don't believe me? Just review threads from a year ago. Yak was a waste of money. So was Jags. We should have bought Nugent / Koumas / Parker / etc.
See, it's not just about splashing cash on high-priced (and frequently over-priced) players, it's about getting the right players in that will improve what you have. And about building a stable nucleus that only needs a couple of pieces replaced or upgraded each season. We have done that better than any of the pretenders to 5th place, and only Villa come close in that respect.
I'm far more interested in what we do to incrementally build on what is already a decent (but too small) squad, and have zero interest in what the other so-called contenders are splashing their cash on.