Age is such a big factor in these mega-contracts. With Raffy being only 26 you are looking at 7 of the 11 years carrying him through his age 33 season which is pretty good in my book, and even better if he can age in anything approaching an Ortizian fashion. Adrian Beltre is another comp and similar kind of hitter, who was quite good through age 39.
The mistakes in previous versions of this situation were made long before the player's free agency was actually here, so I am glad they did not repeat the mistakes all the way through again (in this case it would have been playing footsie around the trade deadline, not making a move, then losing him to NYY or whoever next offseason).
The inflation element helps as well, and having this $ and player locked into the salary plans for many years out is, imo, much more beneficial to future team planning than having the money theoretically freed up but without the player and needing to find somewhere to spend it. The FA market is only going to keep spiking so it isn't going to get easier to outspend other teams for big-time players.
Well this is practically everything. Right now the CBA allows teams to pay too little for top players who are productive in their pre-arb and arb years, and forces them to pay too much for guys post arb, if they are top producers. The single most valuable asset, still quite rare, are top producers who develop so early that when you are forced to pay them what they are worth, it will be for future performance, not past performance. This is why the Mariners throw money at Julio Rodriguez and the Braves locked up their guys. You can't find many top players who you can sign at top dollar for future performance. The Sox had two of them, Mookie and Raffy, and they at least held on to one. Bogaerts too but they smartly bought up a chunk of his prime, just not all of it.
Looking at the largest free agent deals you have:
1. Judge, 30 when signed, largely paying for past performance
2. Harper, 27 when signed, good chunk of future performance
3. Seager, 27 when signed, future performance
4. Cole, 30 when signed, risky but pitchers age differently?
5. Alleged Correa Mets deal, he's 28, so not terrible
6. Machado, 27, fine
7. Trea Turner, 29, just signed, borderline
8. Bogaerts, 30
9. Rendon, 30 when signed, already a disaster
Then you have younger player extensions...
1. J Rod, signed entering age 22 season
2. Trout, signed for 12 years at age 28
3. Tatis, 14 years from age 22
4. Betts, 10 years from age 28
5. Franco, 10 years from age 21
6. Stanton, 13 years from age 26
7. Acuna, 8 years from age 22
8. Luis Robert, 6 years from rookie debut
And so on. That second group is all about buying future performance. The Devers deal looks a bit in between the FA deals and the early extensions, but you can call it similar to Tatis, if you want, by adding his arb money to the $331m and call it a 17 year deal.