That may be true in this case but in the last 12 months we've spent the best part of 150m on Jack Grealish and Kalvin Phillips. If that's not overpaying for players I don't know what is.
In context, we have spent 215m on Jack Grealish, Kalvin Phillips, Erling Haaland, Juliam Alvarez, and Sergio Gomes. Some we pay big for, some we don't, so the point of the days of consistently overpaying being over is still valid.