That approach of the right players at the right price at the right time has been Klopp's approach. Sometimes though, when a club knows you're exclusively in for your player... they can squeeze a bit more out of you, as we found with Virgil (granted, getting caught tapping him up probably hurt our case ).
Assuming pressure doesn't mount on Lampard, which I fear it will because it's Chelsea, but assuming pressure doesn't start piling up with Chelsea's issues and the lack of investment... I think this is the correct approach. Those specifically chosen players (although there should always be backups - Salah was a B option for Klopp... but what a second choice, because he was still identified as a particular player that'd take us up) are the players that'll improve Chelsea pretty massively as they're bedded into the squad. But there's always little overall tweaks and improvements that can be made with the current crop of players, who aren't bad, they just need to have errors coached out of them. And fixing those errors and the whole squad getting good at consistently doing the basics right means that overall there's more consistency in that side and that little tweak translates to a bit of steady gradual improvement.
I think overall that's better for Chelsea's long term prospects of success and it's more sustainable (and a better use of Chelsea's enormous resources) to only spend big on the players the club has spent a long time identifying and making sure they fit in with the more positive approach Lampard is trying to instill at Chelsea.
I just hope they give him a fair shake, considering how he's still pretty new to management - especially at this level. I fear one bad transfer window from Lampard and the Chelsea board will go back to their instinct of sacking the manager.