That's not a smart way to run a franchise though.
In a salary capped league, if you consistently draft really well then
theoretically (key word here) you won't ever really need to sign many guys to long term contracts (whether re-signing drafted guys or signing other teams players in free agency). I think the best run team is one that resembles a college team in that new guys are cycled in every 4-5 years. The big exception would be the QB obviously since you want to have as much stability at the position as possible.
Of course you can't expect to fill your entire roster solely with the draft, so free agency must be utilized as well, but mainly to fill holes and ideally not for overpaying for superstars.
The key point of course is consistently drafting well, which many teams aren't able to do.
Trust me, I know what I'm talking about. This is how I run my team in my NFL GM simulation PC game.