Jeez : bloke is extremely talented - no doubt - IMO Team JOC (James O'Connor) is just that.
Reds seem to have built a nice team a a great culture albeit with some big personalities (like QC (Quade Cooper), Genia, Horwill and Digby). I think those personalities have still worked very well within the team, built team culture and not ostracized other senior or junior members of the squad.
If Team JOC (James O'Connor) came to Ballymore more than a few noses would be put out of joint and is he worth the Reds spending $700-$800,000.
I think not.
The Broncos tried to go down this route - trusting their team culture to keep them going, and whilst they have not been a total failure, they now lack that knock out punch because they simply don't have the players.
Firstly, JOC (James O'Connor) wouldn't cost the reds 700-800 thousand, it would be more like 300,000 with the ARU and 3rd party payments covering the rest. Considering Digby would have been on close to this, and the replacements for lance and Morahan will probably be on rookie contracts, the money makes sense.
Secondly, You have to keep rejuvenating the squad to keep the success rolling. At times you can do this by bringing in young guys like Gill, Shipperly, Shactz etc. but off the top of my head I could only name a few young backs (Placid, Felsman, Parker and Tuilagi) coming through club rugby and academy at the moment who could maybe make the step up in order to cover the loss of Ioane, Lance and Morahan. And even then it would take those guys a couple of seasons before they get to super rugby 'level'.
To cover the loss Ioane, Lance and Morahan the reds need to bring in at least one established outside back, and there are not too many of them running around Australia at the moment who are off contract, at the right age, and of the quality required.