It's understandable, just not logical.
So, what's the logical evaluation of this signing?
To answer that question take the TFC out of the evaluation. If any other MLS team signed a 27-year-old Italian international what would you say? You'd likely say 'Wow, what a get!'
It is a get. It's a signing that very few MLS teams could get done and it's absolutely something that TFC should be praised for. Unqualified praise.
“You can't fix things by throwing money at them” is the single most absurd position a football fan can take. It's the single most effective way to fix things. It's how every team in the world fixes things.
In MLS there is one way a club can set itself above the rest of the pack – by getting the right DPs. Yes, you need to surround them with solid players that fit within the cap, but in MLS in 2015 you need to have your stars right.
While there are ways to nickle and dime DP signings – to try and find a bargain -- you're still looking at the same cap hit as you are if you dump the truck full of money at their feet.
There is nothing inherently superior about spending $1-million on a DP versus $6-million. You're just limiting your options.
By signing Giovinco, TFC has indicated that it's willing to play on a different level than the vast majority of MLS teams. You can question the players that they are spending the money on, but you cannot question the spending. It's not a flawed approach to building a MLS team in 2015.
Unless you feel that the current TFC management is unable to identify talent – and remember it's a group that's only been in place for one full season. You can't hang the errors of Aron Winter, Paul Mariner or Mo Johnston on them – there is no reason to logically suggest TFC won't eventually get it right if it's spending at this level. The scale they are outspending others is just too big. They will eventually find more talent, even if by luck.
Logic is hard when talking about sports though, so people are going to need to see it to believe it. TFC (who had the second biggest season points improvement in MLS last year -- something no one wants to remember, it sees), will be a punchline until it isn't.