I disagree with one thing you say: This token-buyer is not necessarily a "better" manager. He buys tokens to get a better team because he has no managerial skills.
This is not cheating, this is just buying a good team because they can.
The best managers use their tokens wisely and can win in most situations, with or without tokens.
I have no respect for managers who buy their team in leagues where there are no other token buyers.
It takes all the fun out of the game.