Anyone can build a squad with a lot of money.. under Moyes' reign we've overspent on wages (in comparison to income), it's not noticed because Moyes' final position finishes are favourable compared to other clubs final positions and their wage expenditure.
The problem is in the future, Everton will have less money to spend (because of the debt levels and rising wages) and will, in my opinion struggle in the short to long-term.