Re: the money issue. Personally, the only reason I care what they spend is for the same reason you do Gom. Finding value in one place enables them to spend to upgrade in others.
Now as to the justice of the system, I think it sucks. I hate the argument, "It's their money so they can spend it if they want to". In regular commerce, I'm in complete agreement with that philosophy. But baseball isn't regular commerce. Sure, it's a business and the owners want to make money, but the playing field is not level in that regard. Certain markets are greater sources of income, and the way the licensing and broadcast rights are set up it creates regional monopolies. Minnesota can't tap the NY or NE market. In normal business, this does not exist. So, due to these monopolies, certain teams will always have more money than the competition, and failure to provide restraint means the powerhouses will stay powerhouses through the might of their money. Not very sporting if you ask me, and when the business is sport, that is a huge inconsistency with the very fundamentals of what is being sold. Sports are about a level playing field for competition. The current system does not provide that.