This is not that hard to figure out.
In 2020, the Patriots had a few years left with Brady as well as other aging vets (McCourty, Gilmore, Gronkowski, Edelman.)
In 2020 they had tight cap space. In 2021 they had an enormous amount of cap space.
They could have easily done what other teams like the Saints and Rams have done fir years, which is kick cap hits down the road while you have a championship roster.
Brady 2 yr extension with most of cash paid in 2021. Gronkowski market value with most cash deferred to 2021. Sign McCourty, Gilmore, etc., most cash paid in 2021 Trade high picks for proven veterans for 1-2 years or late season rentals.
OR
Do a real rebuild. Trade players for picks. Get younger.
BUT
They basically did the worst of both worlds. Re-sign vets, go into win now mode with thin roster and subpar QBs. Cap space in 2021 instead used for insanely jacked up mid-tier FAs, Jets style. Or in the case of Jonnu Smith, simply burn money.
What is so hard to figure out here? The org continues to overvalue their coaching abilities and the Pats are stuck and on the verge of creating another 3-4 similar years with a league leading amount of cap space next offseason and a possible extension for Andy Dalton’s nephew.