It's pretty bad. Why is it that JPR could get players to accept his money and AA can't? They had to make generous offers to sign A.J. Burnett and B.J. Ryan but neither was outrageous. The only signing that seemed really out of wack for the market was Thomas and if j.P. doesn't compound that with the poorly handled option clause, it wouldn't have been that bad. I remember J.P. stating point blank that the free agent market was prefferable to trades because it's only money. AA is the complete opposite of that. Don't get me wrong, AA's pulled some great trades (Morrow, Rasmus, Y. Escobar) but trading for what are essentially free agent contracts or just to plug easily filled holes is stupidly inneficient.
I'm tired of this loser talk. Get over f***in' Carlos Beltran already. JPR got spurned by Gil Meche. What did he do? He pursued Burnett even more aggresively the next year. He gave him a lot of money, a player's opt out. Whatever it took and he still got good value on the deal (which wasn't the point anyways, the point was to make a run which he did which is why even the Ryan deal was arguably worth it). AA is basically operating with one arm behind his back by eliminating the free agent market. Sign free agents or build from within or ideally do a bit of both. Don't give up assets potentially usable assets for every single roster move. Destroying your depth in not a viable alternative to the free agent market if the market is really that bad then you should be hoarding prospects not giving them up.
The worst move aren't even the overpays for guys like Dickey and Johnson (who was a leat potentially were aces), the worst moves are giving up assets for guys like Happ, Bonifacio and Rogers who are a dime a dozen and should never cost you more than money.