Some perspective. Since 2009, the Mets have been outspent on payroll by the following amounts: Yankees: $678 million Dodgers: $628 million Red Sox: $597 million Angels: $230 million Tigers: $221 million Cubs: $180 million Mets have the 2nd largest market.
If you have to look at the dominating factor the stupidity and incompetence is far more important to their failures than their penny wise pound foolish attitude towards spending ("Hey, we can get a guy who's 25% as good for 75% of the money!").