In simple terms, this is true, in reality there is way more to what a squad cost means. Maybe we need a metric for a transfer's useful value, as the likes of Ward, Soumare, Kristensen, Souttar, Daka, these don't scream value to me, and these are about 100m of these expensive squads you refer too. You can respond by saying that overpaying and buying the wrong players is our fault and of course it is, but we bought them, they contribute to this most expensive championship squad. Basically the squads value is not the full story. (Just ask Leicester 2015/16)