I mean, they do develop and scout, but it’s not like they don’t spend. They don’t have the outlay that City or PSG or even Spurs (though Spurs have spent nothing this year basically), but to act like they don’t leverage being a big club over other smaller clubs to attract and get players is selling it a touch short.
There are a number of players they scoop up from smaller clubs or attract to their youth setup, partially because of track record, but also because they can afford to pay more for them or potentially pay them more.
They operate within their means, and they cycle much of what they’re going to get selling their young talents, but they’re not a complete minnow. It’s all relative and the gap between Ajax and their closest rival is surely closer than Ajax to City, but they’re certainly out performing their expectation. I think more of the surprise is based on how young some of their better players are and how many of them maybe had the potential to be great players, but probably in a bit. It seems they’re playing as a pretty good team right now.