Good stuff, Max.
I'm not sure about where our spending will go, but JH's track record is to spend and go cheap in cycles. I'm not sure why we should expect that to stop.
There is certainly a logical position to take where the idea that our big 3 prospects maye be adding significant value to the 26 man roster in 1.5 to 2 years from now. Add that to a sizable core of 22-27 year olds, already on the team, who have 3+ years of team control. I can understand the thinking that holding off spending until then might be better than spending now, assuming there is an either or dynamic to the choice.
Of course, we can argue JH can afford to spend now and then, but he hasn't always done that, and he is the one who chooses how to spend his money.
I am not trying to downplay the difference in spending from 2018-2019 and the 5 years afterwards. There is a very significant difference, but we must also remember 2018-2019 was a bit of an outlier in Sox spending, too. If you take away the 4-5 owners who have gone bonkers over the last 2-3 years, it wouldn't look so comparatively awful. That doesn't change the fact that JH has gotten stingy, but the relative part of it is equally due to others going nutty.
I'm not going to say I expect JH to spend large, again. I've given up on that. He has had some significant spending adventures since 2019 (Devers, Story, Yoshida,) but that falls way short of the spending that began with Price and ended with that enormous 2019 budget. I'm not sure JH ever spends like that again, but it is entirely possible he goes over the tax line, at some point in the next 1-3 years. He may quickly reset, the next year, but I figure the odds be 50-50 he spends, again.