Even spending a lot of money isn't a guarantee. See: Mets. However, as you imply, it is heavily correlated with winning in baseball over the last several decades.
I think the "right" answer really depends. It seems to me the Astros are doing the "don't ever let a rebuild happen!" mentality and they are just dying a really slow, painful death. The flipside is the ever-rebuilding Rockies. At some point they may have to give the beer away for free to get fans in the stands.
I think the Twins are in a weird spot. They SHOULD have pushed in after 2023, they did the opposite. That decision forced a reckoning that should have resulted a rebuild. Falvey's deadline, to that end, appears to be mostly fruitful last year apart from The Trade That Shall Not Be Named. I still believe that path was the right one and should've been finished off at this deadline before turning the page after the new CBA. The only reason it hasn't been is an unprecedented level of sucking in the AL as a whole.
I think the author here is right, we are dealing with the fallout of a series of half measures which is probably the worst path you can take. Full rebuilding last deadline, then an ok/not awful "buy" at this deadline with a roster that badly needs reconstruction is going to lead to some unfortunate outcomes IMO.