Reading between the lines....
I think what TR is really saying is that we have to dramatically increase the number of quality innings pitched regardless of whether or not it comes from the starters or the bullpen. He probably feels the task is so difficult that he is going to have make an all out effort to improve both starters and relievers significantly - and it still might not be enough.
As far as MI, my guess is that he feels that at least he has some young players to choose from that may get better and solve the problem acceptably. This logic holds some water when you consider the FA options are not great and you would have to overpay to get them (I would like Scutaro however). He knows he has no realistic bullpen options in the system, other than the ones that are already there.
So, I agree with the approach.