We can think about that too. It doesn't lessen the fact that every player should have a cost to a GM, and a big part of that cost is the $$.
Ellsbury was 91st in overall WARP1 last year. As I'm sure you know, WARP is meant to measure his overall performance, hitting, fielding and pitching. Where does 91st place him? Among league losers and players who have no potential and who are poorly paid? I don't think so.
Players ahead of Ellsbury by .2 WARP or less (6.6-6.4) #76-91 overall:
D. Navarro
S. Victorino
N. Mclouth
L. Overbay
A. Ramirez
J. Votto
J. Nathan
I. Suzuki
O.Cabrera
M. Kemp
A. Iwamura
J. Werth
M. Cain
B. Phillips (6.5)
Those are the players who had slightly better overall seasons than Ellsbury.
J. Ellsbury (6.4)
Players who tied or had slightly worse seasons than Ellsbury (the players who are tied are sorted again according to WARP2.
J. Damon (6.4)
J. Duchscherer
J. Papelbon
H. Pence (6.3)
B. Giles
A. Cook
R. Oswalt
J. Vazquez
B. Lidge
D. Dejesus
A. Ether
R. Cano
A. Galarraga
G. Floyd
P. Fielder
A. Burnett
C. Zambrano
B. Sheets
O. Hudson
C. Young
A. Soriano
M. Tejada
J. Beckett
F. Cordero
J. Drew
The list of players who didn't win as many games as Ellsbury also includes celebrities, such as,:
Vlad Guerrero
Miguel Cabrera
Bobby Abreu
Carlos Lee
Ryan Howard
Maglio Ordonez
Jason Giambi
In fact, based on his 2008 WARP, Ellsbury would have been the 4th most valuable Yankee, behind Rivera, A-Rod and Mussina, and 2 full wins ahead of Derek Jeter.
According to Fielding Runs Above Average (FRAA) Ellsbury tied for 2nd in all of baseball with Michael Young at 18. In FRAR he is 2nd among outfielders, behind Torii Hunter. His FRAA2 of 23 is better than Damon's best of 21 in 2001, his age 27 season.
I understand why people (myself included) really like Ellsbury. He's a very fast young outfielder who gives the Sox a base stealing threat. That's pretty un-Red Sox historically. If he improves his patience and makes better contact he will add more wins overall and could certainly be one of the leaguers more valuable players.
At the same time, I don't think he's the savior, and I don't think he's untouchable (who wouldn't have dealt him for someone like Hanley Ramirez??), I think he is lible to be underestimated in terms of his value by people who only look at VORP or who don't believe defensive skill can improve a team's chances of winning.