I totally agree on your sentiment and current attacking quality, but I can't say I think we have 'done things on the cheap' in that area. Simons and Kudus both cost around £55m, Solanke also cost this amount. Tel and Odobert are young punts in the same way Bergvall, Gray etc were of which Tel was a £30m one, and that is not cheap for that type of signing.
We definitely need a quality LW and another CF - But Kudus is good and will be better if his decision making improves, it's likely Simons will turn out to be very good if used properly. At least one of Tel/Odobert will come good IMO. I agree that attack is a big problem right now, but I don't agree its because of doing it on the cheap - more so these are players that were investments as much for the future as for now, so will take a while for some of them to flourish. We need more 'ready now' quality really....