"In Justynius' 12 candidates for the top 100, fully 11 of them are hitters..."
I forgot to mention, I'm strongly in favor of this strategy for two reasons:
(1) Hitters are safer than pitchers. Pitchers tear labrums. Their MLB growing pains are more costly to a team than a hitter's. The Braves, A's, and to a certain degree Cubs all tempted everyone with a big homegrown 3/4 in their rotations, but I think that was more chance than strategy. You set out to do that, and you wind up with more 0's than you can afford. An ace SP is probably more valuable than a big bat, but the amount of wasted talent trying to find that ace will not outweight what you could have gotten from hitters.
(2) Teams with extreme ballparks should always build with the reverse. Hitters will be prejudiced against Safeco Field. They're less likely to sign with the M's, and could potentially be more expensive. It's easier to attract free agent pitching talent, you could possibly get them at a discount, and the pitchers you do have will overachieve.