I actually don't.
Detroit spent out the ass for a 4 year run, but now they kind of suck and are in a s***** position.
St Louis has been good for like two decades, and their recent payrolls have hovered in the 10th-13th overall range.
I think there is a sweet spot where a sane payroll a) provides enough funds for a team to compete, and prevents a team from doing anything stupid with its money.
Sweet spot payrolls force teams to build long term, from within, through the draft and international markets. They force teams to focus on internal personnel talent (front office, development, analytics, scouting) and not just on expensive player talent.
I want to watch Toronto win for the next twenty years, not just for the next two or three.
I'll take the payroll right where it is.
... unless some billionaire wants to buy the team and fund a payroll up near the Yankees'.
I understand that teams can have high payrolls and build long term. They aren't mutually exclusive things. This is just coming from observation of how teams with different payrolls seem to operate. The practical effect, so to speak. I hate how teams like the Angels and Tigers and Phillies were/are run.