More or less the same conjectural argument would be made if, for example, we hadn't signed Ødegaard for €35m. Except we did, because—weirdly—we did have that other €35m in Stan's magic pocket.
We more than doubled the spend on White last summer, and it seems likely we'll spend heavily on other positions in the coming couple of windows. We have limited resources in some sense, but not this sense.
What if anything backs up the regular claim that White's high fee ruled us out of strengthening other areas? Surely it should be possible to cite a deal on a striker or midfielder we backed out of due to White's fee, or a statement from the club about being unable to spend more in the window, or about a cap placed on overall spending.
Surely if you're gonna post about this twice a week there should be one iota of forensic material to produce?
For what it's worth, this question also applies to other situations with squad spending, except in some of those other situations (like Özil's contract) the money isn't being spent on a quality player with an Arsenal future who's earning his wages.