I agree. They mostly sign aging players, although now that Cashman is back in charge and the Boss doesn't have as much say in things, look for that to change.
Even with the Damon signing, 20 mil is coming off the books. Also, last year's woes forced the yankees to find younger players who are GOING to break out, not established players who have been good for years. Without last years bad play/injuries, you dont have Wang, Small, Chacon, or Cano on the team. In one year Cashman has added those guys, and has gotten younger in the bullpen too (Farsworth vs Gordon). Even Damon is 6 years younger than bernie. Cashman already has this team younger and less expensive. It's a process, and it's not gonna happen overnight, but watch and see what a responsible GM can do as long as the boss stays out of it.