The only problem with that analysis is that we’ve been more all in post Brees than we ever were with Brees, and we all know most of our wins came with Brees. Prior to 2020, the Saints never spent more than 60% of their cash on bonuses. We’ve done it four years in a row.
In reality, Loomis would always manage the cap back to normal the year after a big signing so he would have the flexibility to manage the roster without the limitations of excessive dead money. We’re trapped to where we can’t do that now.
So we laugh when another team signs our 30yo DT, when we just gave new signing bonuses to our 34yo DE, 34yo LB, 33yo TE, and 31yo S which ties our cap to those players even longer.