Context.
The answer to your question is yes. But when you sell big, it allows you to spend big too.
I could also go on and ask you: Did Liverpool sell big since 2015, yes or no?
So summasumarum what really counts
is the net spending. Liverpool since 2015 had a much smaller net spending than Milan while their team went from mediocre shit to CL winner. In the same amount of time we didn‘t even made it into CL and if we actually got that one point more last season UEFA would have kicked us out just
because of that net spending.
Again: Yes, Liverpool spend big, but on top of that smart while supporting those spendings with big sellings too.
Bit even if you refuse to look at bet spendings: We did spend big too. According to Transfermarkt sth like 550-600M since 2015. More than Liverpool since Klopps arrival in october 2015 with their 440M. So if you put that into perspective than the answer to your initial question should actually be „no“