I think it's more frequent to hear or read it like 1-2 away from contending, or even winning it all. "Competing" may be just winning as many as you lose. Sox fans that liked the Mookie trade give two reasons (besides that he's too greedy, and Henry would never be able to afford another good player again): we got prospects back before he walked for nothing, and besides, "the Sox weren't goin anywaa anyways". But Dodger fans will go to their graves knowing Betts was the final piece that put them over the top in 2020.
I agree it's all about spending (though as much by how you spend, and not just how much). The '03 Sox were a Schilling, Foulke and Cabrera away from a ring, but the '12 Sox needed a Koji, Vic, Napoli, Drew and Gomes to compete/contend/conquer. The '18 Sox, as it turned out, needed a bit more than a Cashner, Owings and Gorkys Hernandez to repeat...