I really can't argue with anything you've said.
However, look at the Yankees for example. I know that no one can compete with their tv deal, and that gives them a huge leg up on the competition, but, they haven't really been built through the draft, and they are in WS contention every year. The same is true of the Cards, Giants, Bosox, Braves and Angels.
Free agency may be a "crutch", but it is a very valuable one, and I feel the Sox are doing their fans a disservice by not making better use thereof!