I care. Perhaps I shouldn't but I don't like paying 2x as much for players compared to Bayern Munich or Barcelona. I don't like spending 10x the amount for the same results as someone else. I think it actually matters. It makes awards and recognition for our players less forthcoming which affects both they value and their confidence on the pitch IMO, and it adds a suffocating pressure to some players which they can't handle. Mangala, for example, is a player who I think would have been incredible at £20m, but the public pressure from both crowds and press about his massive fee got to him, and magnified every mistake.
Some players will cope anyway, but others can have very promising City careers killed by it.
I also think the noveau riche tag which comes with that excess spending effects foreign players perception of us when we come calling for a transfer.
Now don't get me wrong, I don't have a problem with spending. I don't care if we spend 300m this summer, I just want it to be at a decent value.
If we spend loads more than anyone else, we should be miles better.