Yeah, it doesn't bother me. They've been very clear about their plan and their timetable. These are the same sort of debates that have happened around the Sixers (and would about the Flyers too, if they weren't already spending to the cap).
The proof will be in the pudding over the next two years. If they can't, won't or are unable to spend money on anything they need (which will depend on how all these young players work out) that would be bad, but if that turns out to be the case it's not something that could have been fixed by a few signings this year or last year either. And Santana - and the $ devoted to RPs - was already a pretty big surprise.
Arguably, what happened was a shift in strategy, everyone thought they would sign a starter and maybe one ho-hum vet reliever (which is what Neshek was last year) and instead they focused on more/better relievers (due to the change in how the pitching staff is going to be handled overall) and a bat.
Beyond that, w/o giving up on Franco, Alfaro or at least one of Williams/Altherr, it's not like they could add that much payroll, and you can make the case that letting these young pitchers sink or swim has just as much as value as doing so with the position players.
Anyway, what's amazing is, this is still a non-definitive debate until we're sure the Phillies aren't actually signing anybody. Whether it's a Cashner or a Darvish.