Not sure tbh. Leicester tend to buy cheap, develop and sell on. They've done it with Kante, Drinkwater, Mahrez and McGuire. They sold Chilwell in the summer for £50m after developing James Justin as a replacement (cost £8m from Luton). They have invested in Periera, Castagne, Soryuncu and Fofana for the future. Looks like a good business model to me.
They didn't do it before they got established though, and they also supplemented it with experience (Jonny Evans). This is where we have slipped up. We seem locked into the idea of paying decent transfer fees which we can afford immediately, but not high wages which we are lumbered with if we get relegated.
I'd argue we should have done a bit of both.
I think the low wages is a slight red herring though, as I'm sure I read that the players get very good bonuses depending upon final league position. So whilst the weekly wage is low, the annual earnings are good, if they do well.
Ironically, whilst this was a great system getting to the EPL, perhaps there are a lot of sulking players out there who realise that their year end bonus has gone the same way as Moose's car, i.e up in smoke.