This falls apart when Madrid fans told us you were selling players to find Mbappes wages. His wage may not as been disgusting as it is now but it wouldn’t have been far off so Madrid, and Spain, lose the moral high ground here.
I can't speak for other RM fans but I don't think I have been saying that because I don't think it's true or that it even makes sense if you look at the numbers.
We've continued to add people with high wages to the squad, like David Alaba and possibly Antonio Rudiger. We've made renewal offers to many players, such as Ramos (who ultimately left), Varane, Vazquez, Nacho, and I believe Asensio and Ceballos. The players we haven't made offers to are ones who contribute little to the squad now, such as Marcelo, Isco, and Bale. The only important player we've sold in years is Varane, who wanted to leave the club. All the other sales are young players, many of them youth products, who were out on loans previously; most of never had more than one season with the first team.
Our squad is not financially conditioned by Mbappe, I don't think. His impact was more on the sporting side, in having a thin attacking roster in expectation that he joined. But even this is not exactly true, as the attacking roster is thin because of the absolute failure of the Jovic and Hazard transfers (a +200m investment that has offered zero return).
This risk vs reward of the process thing just sounds like a rationalisation.
It's not a rationalization, it's a completely normal process that happens all the time. It applies to Real Madrid too. Nobody forced Real Madrid not to draw a line with Mbappe. They took the risk because they wanted a star player on a free, it didn't pay off, now they must deal with the consequences both on the pitch (no reward, don't have the player) and off it (the criticism, which are they are getting to some extent from both fans and press).
Another example is when Ronaldo announced in 2018 after the CL final that he wanted to leave the club. He had a long contract at the time, we did the opposite, let him go for Juventus who paid a big fee. The situation there was inverted, the rewards were off the pitch (avoid drama, look good on transfer market by moving on an old player for a huge fee, 'no player bigger than the club', etc.) but the risk was on the pitch (lose the star player of your team). Got the rewards, and the risk fully materialized into scoring 20-30 less goals per season for a few years.