It's impossible to really know. They avoided their single biggest expense, player payroll, but they still paid the entire 800-person organization, lost revenue from both national and local TV and sponsorships (since if you're WB Mason, you're paying for 81 games with fans and TV viewers, not 30 with no fans) and of course had no ticket sales or concessions to go towards the prorated player salaries.
Anyway, in the end it really doesn't matter if they are lying or doing clever bookkeeping or not counting auxiliary revenue or not considering franchise value. They (all the MLB owners) don't care. Or rather, they care more about managing expenses and not sharing more revenue with the players than they do about winning or the fans.
When you look at what the Phillies, or even worse, a team like the Reds are doing, part of me has to think, "they surely wouldn't be doing this if they are lying about the $." But in the end it doesn't matter. They're doing it.
Per Passan the Reds are supposedly making both Moustakas and Suarez available, which just further highlights how hard it would be to trade Segura.