The argument that signing Santana wouldn't have made us favourites to win the world series therefore it wasn't worth it is ridiculous. Ownership has constantly said they think we have enough talent to field a competitive team. Your job as a GM is to field the best team you can with the resources provided. Santana would have made us better.
If you want to say Santana would only have added a couple wins, you can't ignore the fact that teams miss the playoffs by only a couple games all the time. Bottom line is he would have made us better and would have been a clear upgrade in an area that needs upgrades. At this stage we're counting on a minimum of two surprise pitchers coming in and killing it this year.
Even if Santana didn't perform like he did last year the value that a guy who throws 200 innings provides is tremendous. Heck, give me a 4.00 era and I'm still ok with it especially considering the lack of durable arms we have.
They talked about the 3 year window last year and this offseason they've acted like those words were never spoken. Observing the situation rationally the only explanation for their lack of activity this offseason is that they had financial constraints they were working with. And since front office constantly lies to us about injuries I have no doubt that they aren't exactly honest about the fact that ownership has never restricted their use of resources.