Adp, your Lerner description is definitely consistent with operating within a budget and sticking to it. It's a far cry though from an owner with deep pockets and a willingness to spend, since he got a sweetheart deal from DC on the stadium and was granted much of the surrounding land to build condos and such (gentrifying very well), as I remember you had implied in the past. That said, I'm guessing that with the TV deal being substandard and Nats attendance being what it is (ok and better but never great), he doesn't make as much on an operating basis as he'd like.
Sounds like Nats will have more or less a small market mentality as long as he owns the team. I.e., will be hard to work around mistakes like the R. Zimmerman deal, and rocks like the Werth contract and probably the Scherzer deal, even with deferred money. Will need to jettison a Clippard here and there even if not best for the team.
and I'm guessing they trade Harper 18 months or so before he goes FA at the latest, to try to maximize the haul of club controlled assets in return.