Yes - and the moral of that story is that Jed may be trying to emulate that approach, which has been extremely successful for a large market team. But it takes patience while getting the prospects to mature and you can't have a bunch of payroll tied up in aging players once they do.
I'm not saying I 100% agree with the approach, but I do think Hoyer has sold Ricketts on the idea of building slowly, picking the "right" guys to invest in, and spending most of your payroll on pre-prime and prime players and as little as possible on post-prime guys.