Paying for hitters makes more sense than paying for pitchers, yes, they can flop and get injured, but usually there's a pretty good track record, history on decline rates, and fewer whiffs. Cutch may have gotten hurt, but that was a fluke that could have happened to Rhys just as easily - that is, he was durable, crap happens, nothing to do with free agency. He should be back next year.
Pitchers are just too much of a crap shoot to give long-term deals, and if you do so, better the pitcher you've had a few years to observe, than the one another team deemed unworthy of a big contract.
Now that doesn't mean you don't sign pitchers, but better three Mortons (high upside, reasonable cost, high risk) than one Arrieta (high upside, high cost, moderate risk). Grow your own and fill in with affordable patches. Look at the bullpen, Hunter, Neshak, Robertson injured, Nicasio pitching like a $2M pitcher. Meanwhile Neris, Morgan, Suarez, and low cost Alvarez are the heart of the pen.