I'd rather have a bunch of young, hungry and coachable players than a bunch of decrepit, expensive prima-donnas.
While I don't disagree, especially from a cost/value standpoint, once you get them together for a few years, they develop collectively and individually and you see where the talent starts to shine. If they succeed, then the spectre of arbitration salary raises comes into play, or they are lured off by higher paydays by free-er spending teams.
If the Astros are doing this because their market just won't support them (much like the Marlins and Rays), well, they're just hamstrung in terms of revenue. If they management is playing Moneyball to the extreme, good luck, only a few teams have done well consistently with that.
Not that I like or enjoy seeing the 9 figure multiyear contracts - that's just nuts thinking about that much money - but MLB hasn't decided on a salary cap and probably never will as long as there are owners and teams willing to pay (throw away) that much money, my Dodgers included. OTOH, the revenue generated by a winning team and very supportive fan base (nee Yankees and regional sports network TV revenue) can make it a reasonably sound business decision.
But very true, overpaid prima donna's gets old really fast. During the bankruptcy, we were still paying or owed:
Manny Ramirez, $20,992,086
Andruw Jones, $11,075,000
Hiroki Kuroda, $4,483,516
Rafael Furcal, $3,725,275
Chicago White Sox, $3,500,000
Ted Lilly, $3,423,077
Zach Lee, $3,400,000
Kaz Ishii, $3,300,000
Juan Uribe, $3,241,758
Matt Guerrier, $3,090,659
And 150K was owed to Vin Scully, of all people! These debts were all because of the financial shenanigans of previous ownership and the leveraging they were doing to hide it. Bad management.
I'm sure that the Magic / Guggenheim group has cleared that off the books and now has really opened up the pocketbooks, in as much a statement to the league as well as its fans, that it is committed financially to fielding a great team. Same for spending over $100 million to renovate Dodger Stadium and putting the fan experience as number 2 behind having a great and hopefully competitive team.