There's still a possibility to make a multi-year investment in a pitcher if the will is there. I won't conclude this for sure about Quintana, but presumably he wants to be a part of a winner, and signing to be in a rotation with Scherzer and Verlander, alongside an offense that is likely poised to add this winter too, is a pretty good way to go about that.
I don't think that gets the Pirates off the hook whatsoever, but I'd guess it was reality. Quintana could maybe have waited to see how things unfolded, and the theory I've pushed all season is that the only way to get him back here would be to go a third guaranteed year that maybe some other teams would shy away from.
There are at least two reasons why people don't sign here, as people are pointing out, and they aren't always easily separable. One is money and the other is that most other teams provide a better opportunity to win, usually with at least equivalent money. Quintana seems more like the latter option, which is a root problem that can only be changed by winning more. Tampa is equally frugal with at least actual free agent pickups, but they still got Eflin to sign very quickly.
The path there for the Pirates is at minimum developing better and extending some of their players, and though I remain personally pretty skeptical of Reynolds and annoyed by this situation, I don't see how the whole Reynolds thing helps them in this broader sense. They could easily have gambled a bit on an enormous (for them) extension to make Reynolds a Pirate for as long as Hayes. I think there's a more abstract argument for why that isn't the absolute optimal decision (IMO, the 5 year, 80 million type deal is much smarter, but we don't know if even that was offered), but the fact remains that there are almost no payroll commitments and almost no arbitration headaches on the horizon for another 4+ years. We could have invested in Reynolds to continue trying to move in the right direction and be more attractive to free agents at least perhaps next offseason or the following one. Instead, we're in the same mess.
But, at the end of the day, there are still some potential free agents out there on which we can prove we are willing to pay market price. Stripling is likely a little step below Taillon in terms of what he can command, which should be affordable for them. He's got very good command numbers and was quietly very good against tough opponents last year. I think he's a good breakout candidate to be a nice solid #3 type pitcher who can be more of a #2 a lot of the times when he's rolling or facing the weaker NL Central offenses.
He'd be my pick to pivot towards, but there are even still a number of others still on the board with Quintana gone. Wacha might get 2/20 or 2/25 if the market is a little bit inflated, but though riskier, he still has ok upside to carry some innings as a viable mid-rotation guy. I don't think the Pirates should be let off the hook and don't think anyone else should think so either, but they should even be spending for the slightly lower tier options. We all know that if they didn't spend 10-12M on Wacha for a couple of years, they wouldn't suddenly reinvest the 20 total to sign someone for 50-60 in 2025.