Some successful teams aren't doing it that way - like those pesky bastards in San Francisco
Isn't it really just one sucessful team doing it that way. San Fran managed to go from a relatively cheap Garoppolo to a cheap Brock Purdy. It's proof that it can be done, but it hasn't completely worked for them since they still haven't won the big one.
Everyone else is doing well with a highly paid QB or a rookie deal QB (who will get paid eventually). The Chiefs, to me, are showing the way. Pay your QB and after that pay a few other difference makers. Make some moves to trade good players for picks and keep drafting in quantity to keep a young, cheap roster around your star QB.