Yes and no.
A high payroll might get you to the playoffs. Ref. the Yankees. But it won’t win you a world series ring. Again, look at the Yankees getting shut out again in the first round of the playoffs.
In reality, the one thing a lot of money can’t buy you in baseball these days is good pitching. There aren’t enough good young arms to go around, and most teams have smartened up and refused to release their young prospects anymore.
the Yankees have made a career this decade of buying Big bats. A-Rod, back stabbing ex-mariner he is, is an example of that. Big Bats, if you have enough of them, can usually come through and power enough games over a 100 plus season to get you in the playoffs. Unless you are the Bluejays stuck in the same divisions as the Red sox and Yankees.
but come five game and seven game playoffs pitching can make or end your stay. Yanks don’t have it.
>>A high payroll might get you to the playoffs. Ref. the Yankees. But it won’t win you a world series ring.
Florida Marlins, 2003 (including Josh Beckett,
who pitched a dandy—complete game, IIRC—in the
deciding game 6)