Reading the MLB FA market isn't an exercise in rational foresight though. It's not simple to just, say, count the DHs and predict that the market will fall out.
The MLB FA market is irrational as f***.
I support a moderate quick strike strategy, year over year. Identify reasonable targets who could pay dividends and pounce on them. There is always risk in FA investing. It didn't particularly work with Morales (apparently, at this point in time) but it has paid off big for Toronto with JA Happ, should pay off big with Steve Pearce. Paid off big with Estrada (did he ever actually reach FA?)
Happ got significantly less money last year than Kennedy, Leake, Chen, Zimmerman, Shark, Kazmir... he outperformed all of them and nearly paid for his whole contract in one year.
Heck, he was better than Zack Greinke.
Getting slightly less $$ than Happ were guys like Gallardo, Anderson, Pelfrey - pieces of s*** that ended up being worthless.
Toronto clearly likes Morales. Maybe there's something in his statistical indicators that isn't obvious to us. We do already know about his hard hit rate being very good. Maybe he'll blow Moss et al. out of the water going forward. Maybe not. It doesn't mean Toronto's free agency policies are mistaken.