There are enough good major league level players in the league that having all of the money in the world doesn’t guarantee you anything. And having money and not using it to improve your team— that would just be stupid.
There are no “guarantees” in anything.
However, high, and to a lesser extent, high moderate payroll teams enjoy ridiculously unfair advantages in MAKING the playoffs. Some teams haven’t sniffed the playoffs in decades. Unreal.
The only explanation as to how MLB is able to survive this travesty is the quasi roll of the dice that is the Playoffs.
Yankee fans would be the first ones to bitch if it was say, the Toronto Blue Jays who decade after decade, rolled out a payroll three to four times that of the Yanks, with the pinstripers perenially finishing at the bottom of the Division BECAUSE of that payroll asymmetry.