Perhaps, but we've tried buying 'value' players in the tier below the players we want for about ten years now, & most of the time it doesn't fucking work.
Sometimes we need to gamble, & this side isn't that far away from seriously challenging with the right players.
The way I look at it, when you buy any player you're taking a gamble, but as a general rule, paying more increases the chances of their success (of course there are loads of examples of that not working, before anyone screams Andy Carroll at me), whereas gambling with that lower tier of players or potential, is much riskier, our track record with it is probably around 50% success, & even then that 50% aren't becoming those top tier players, just good first teamers, it's a much lower percentage that become the top tier players you're arguing we swerve to buy those.
If we assume that stays true then we end up with two squad players, & two first teamers who are lower quality than we need to genuinely improve the first team.
Of course, no one fucking knows for sure, but imo repeating the same actions over & over again in the hope that the outcome will change is a huge mistake.