He didn't say that, of course. He said too many owners don't want to spend the money. It's certainly possible that there are owners who are more interested in making profits and capital gains than they are in providing a winning team.
At the same time that doesn't mean it's smart to just sign every splashy free agent you can, obviously.
But let's not oversimplify the issues and make everything pure black and white. There's plenty in between.