What I'm witnessing Ballard do, right before our eyes, is use Free Agency to make the defense 'work'. Look at his signings and re-signings; except for Pittman (and Flacco), all of the signings and media linked targets are defenders. He isn't breaking the bank for any of them. All of the effort has been, at least it appears to me, to make the defense adequate for the next 3 years. That frees up the draft to put foundational pieces around Anthony Richardson. This way, 2 years from now, you still have a functioning defense; but also mature offensive playmakers who are working with a young, vet QB (still on his rookie contract, at that).
Ballard IS in fact doing what many of the posters are clamoring for, he's just doing it in a way that won't require him to blow it all up in 3 years because it became unaffordable. If it takes an extra year or two from now to build cautiously, but lasts for a decade; isn't that a good thing?
Maybe he fails. Maybe he's a genius. But what he is doing is obvious if you pay attention to what he says.