I think Ben Clemens (Fangraphs) nailed it: The Angels have to go all-in

[Angelsjunky]

https://blogs.fangraphs.com/angels-bet-on-themselves-acquire-giolito-and-lopez-to-bolster-playoff-hopes/

Particularly this part:

Quote

 

Think of it this way: the Angels probably won’t be as good as they are, right this minute, for a long while. They have the best player on the planet at the peak of his powers. They have the previous best player on the planet in his age-31 season, still great but headed inexorably down from his apex. They’ve already broken open the farm system piggy bank and taken whatever they can use; two players they drafted last year have already debuted in the majors, for example.

Want to talk about leverage? The last half of 2023 will likely matter more to Angels fans than the 2024 and ’25 seasons combined. The odds know how likely the team is to make the playoffs this year, but they don’t know that it’s not getting better in the immediate future. They don’t know that letting Ohtani’s tenure on the team run out without a playoff appearance will be all that people remember the team for down the road.

When some future group of analytical writers weighs the relative performance of this era’s GMs, this trade will likely count against Minasian’s record. Giolito and López likely won’t make the difference when it comes to making the playoffs. Ohtani will likely leave in the offseason. The cupboard will be more bare than it was a day ago. Who cares? From the position the Angels are in today, going for it in 2023 is the only reasonable aim.

 

What an interesting moment for the Angels. They almost have to reach the postseason this year. If they don't, they probably lose Ohtani and if Perry has half a brain, which he does, then he'll realize at that point the best thing to do is rebuild in the hopes of being competitive in 3-4 years (sorry, Trout).

So, yeah. The next two months are huge, regardless of the outcome. Makes things interesting!

[UndertheHalo]

Ya I mean great chance it doesn’t work out exactly as this guy describes but there’s some chance that it will as well.  Might as well go for it. 
 

[Angelsjunky]

I see three paths forward, one very good, one good (and eventually very good), and one bad to terrible.

Path One: Ohtani stays. The Angels establish themselves as contenders (hopefully).

This probably requires making the playoffs, but who knows, maybe a solid hunt is enough for Ohtani to stay. Arte tastes blood, re-invests in the Angels. It starts with backing up the truck for Ohtani but doesn't end there. All of a sudden, for better or worse, they have a top 3 payroll, but also a pretty good team. The Angels don't become the Astros--yet--but they're good enough to be competitive for the next few years while the farm system is rebuilt with Perry's Master Plan. Good times ahead, although probably more of a perennial 85-95 win team rather than 95-100, albeit a very expensive one. 

Path Two: Ohtani leaves, rebuild commences.

OK, it is sad, but this is what they should have done seven or eight years ago. Finally. So we have to watch Mike Pout and the decrepit Baseball Player Formerly Known As Rendon, but we get to see a youth movement. And the team isn't horrible - they'll hold onto Neto, O'Hoppe, Adell, Moniak, Detmers, Bachman, Joyce, Silseth etc, plus pretty soon we'll see Schanuel and maybe Paris. They shed whatever parts they can and make payroll leaner and leaner, re-investing in the farm. But we're probably looking at an N+3 situation at best, as far as contention is concerned, and it will require a very disciplined Minasian and a patient Arte. Trout might not make it back to the playoffs until his mid-30s, but oh well. The temptation will be great to slip into the next scenario...

Path Three: Ohtani leaves, they try to compete next year.

This would essentially be more of what we've seen, but now without Ohtani. Arte doesn't accept a rebuild and furthers his status as Dumb Steinbrenner. Theoretically they could spend that same $50M on two good players or several solid ones, but we're left with more of the same agony of the last decade but without Ohtani and now with an aging Trout and whatever Rendon is. This, imo, is a terrible outcome and just more of the same crap.

[Halo in Chicago]

This has been a must win season all year, whether it should have been or not. May as well go all in and not worry about 2025 and try to win in 2023.