All that is just common sense to a large extent, and it's only right when it's right. In other words, most neutrals will equate trophies with getting it right. You see part of that with those who are arguing for Postecoglou to stay.
Firstly, it's really difficult to become a competitive team in the PL. By competitive I mean one who can win the title. Last season in my opinion there were only 3 realistic contenders, but probably 8 for the 5 CL places, including us, and not via the CL.
Buying players for high transfer sums and big wages can go catastrophically wrong, because there are no guarantees and because unless you have the right manager, right culture and many of those wider ingredients, you can easily be left with highly paid duds. United are the prime example of that. You recognise that in part.
I have no idea what other clubs pay for their top players, but do agree that we need 3 or 4, who by evidence are only with us because they are near to being the very best in their position. The issue there of course is that there isn't a surfeit of top players, so you have to either compete at stupid levels, or try more reasonably to get the rung below, in the hope the other factors (manager and culture) are in our favour. And then create an environment or coach the players to get even better. Kane, Eriksen, Alli for obvious examples. Madrid and Bake before them.
I think we are too slow in the transfer market, and too unsure about what we want. We have failed, since Pochettino to get a manager who shows they add value, and who generates that strong culture within the squad of players and creates that real mental strength, which is absolutely down (principally) to the manager and the senior players.
Money alone or even in a big way is not necessarily the answer.
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