Whatever the reasons, if you've got teams spending up into the $90M's this year and the C's are spending in the low $70M's, I'd say they're currently spending at the mid-market level.
If that will change over time, to me the question is how will it, and what will their strategy be for getting there--if that's what their strategy will be?
Clearly they spent years getting to a position of cap space, but upon arrival it is no longer a significant match for this year's market. What's more, the C's (Wyc and Danny) sound like they don't believe in targeting that going forward.
So again, what is the new strategy--if there is one?