I don't know all the details with the Angels, but it seems like ownership hasn't investing in scouting/analytics so the Angels chase NAMES and not RESULTS.
The Angels and the Mets under the WIlpon family are basically the same franchise. The Mets would go get a "name" player to try and win the backpages of the papers instead of putting together the best ballclub possible; and the result was a lot of mediocrity; and anytime they'd be decent -- like 83-85 wins, they'd make stupid moves that sacrificed their future.
Angels remind me a lot of THAT. It's never the elite players signing huge contracts that kill you. It's the second tier contracts that kill you. Guys like Chris Davis on a 7-year contract, or Rendon.
The good teams will give the elite guys huge money and then do shorter contracts on the pretty good tier to avoid mistakes; while completely ignoring guys who want more money than they're worth. You can replace Syndergaard's production for half the price, so the Mets (now under new leadership) totally DID, getting Tajuan Walker and Chris Bassitt for each less than half Thor's price tag.