The issue in baseball is spending doesn't equivalate to winning it all. Mainly because pitching is an inconsistent position.
So they could spend 3 times more than anyone else and still lose.
But baseball is a game of failures. Failing 70% of the time makes you and elite hitter.
Even the Yankees and their evil empire days, they spent more than anyone else and only won what? 3-4 times in 20+ years (I'm completely guessing here, I am too lazy to fact check these numbers). But regardless, they lost more than won. But they were there almost every year, and that appeased their fanbase and drew all the good players. Now it's the Dodgers.
It's just no fun from a fan perspective to watch all the superstars end up in one place. Most teams can't build through the draft repeatedly like the Rays and A's can where they field good teams, with bad budgets and it's mostly home grown talent.
It's why Trout staying with the Angels was such a big deal. He purposely shunned the big markets.