You don't think a top 5 pick for 31 year old Ray Allen coming off a major injury was an overpay? I'd say it was.
Honestly, I just don't think cap flexibility means much if anything the next few years.
I think we will have to disagree. Thomas-Butler-Howard would be in the mix for best top 3 in the East outside Cleveland, and I think they could have the necessary components to give em a run for their money.
That said, if you want to define contention as having a chance to beat a healthy Golden State or San Antonio team in a seven game series without a lot of luck, well, I'd agree the team wouldn't be there yet.
But honestly, if that's the only goal worth pursuing, we should give up and just wait five to eight years, because I don't see a viable path to adding a top 5 player to this roster, and that's what it would take to reach that level.