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Psychologically, I tend to agree with your assessment, but I have a beef with their math too.  I believe value (if calculated correctly using a pythagorean model) accelerates with increasing divergence from average...a mega-star isn't worth the linear gap in run value...it's worth the inverted pythagorean gap...which has a quasi-exponential lapse rate.  A true ace pitcher isn't worth 5 wins to the big #2's 3 wins.  He's worth 10 wins to the number two's 3 wins.  The same happens for the hitters (but not quite as severely because there are nine batting order slots so the payday is split more ways).

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