It does look that way, and I don't disagree.
It could certainly be more about changing philosophies due to indecision, knee-jerk reactions to certain trends and or near total dysfunction, despite some brilliant people in the organization bringing about scattered success.
At times, I feel like JH prefers a steady balanced approach like we saw for most of Theo's time, here. Keep the farm strong, spend where and when needed and never let the budget get unmanageable. Under Ben, we saw a slide towards hoarding prospects, perhaps to try and balance what happened in Theo's last years, but he still was allowed to spend. The 3 last place finishes in 4 years seemed to make JH & Co. give up on "the balanced approach" and go all in. The no signing pitchers over 30 moratorium ended with the biggest Sox FA signing in history- David Price. Prospects were traded like candy. To me, that period was a bigger outlier than than the Bloom era of a near compete reversal of philosophy.
I wanted to believe it was a move towards a more balanced approach, and I felt with Ben, but the big trades never happened. It's been 7 years since the Sale trade and over 5 years since the Nate deal.
The Story and Yoshida signings are pretty significant, but counting inflation, they don't combine to equal the cost of Price- nor did Pablo & HRam combined.
The Devers extension might be the best sign the switch is being flipped, but I am not getting my hopes up on that front, anymore.