You can find talent in Japan, just very little elite, HOF kind of talent. Dice-K was WAY overhyped. I like to think of Japanese ball as AAA, it's a good way to judge talent, but it doesn't PROVE anything. I think it's a bit ridiculous giving a huge contract to someone who hasn't even played in a single Professional American baseball game, let alone in the majors.
Matsui is a good hitter, but not elite. He came into the league at 29 years of age and was billed as the "Godzilla" of Japanese baseball. He only once posted 30+ HR and has a career SLG of 0.483, OPS of 0.852.