Should the Toronto Blue Jays still exist as a team, comparing them to the New York Yankees?
I assume that the underlying question here has to do with why sports teams exist if they cannot contend for championships. In other words, you are asking something like “If a team like Toronto cannot win like the Yankees do, should they even exist?” There are two ways to answer this, both of which say that the team should continue to exist.
First, the purpose of a professional baseball team is to make money for those who own it. Owners typically want to win, of course, but most of them want to make money as well. From this point of view, the Blue Jays should exist as long as someone thinks that they can make money owning and operating the team.
Second, the purpose of Major League Baseball teams is also to provide a league in which all of the teams can compete. Even if each team is not likely to win the World Series, each team is important. The presence of a team in Toronto, or Kansas City gives MLB a presence in that area, helping to make their product more popular. The existence of the Blue Jays makes economic and competitive sense for the rest of the league.
Ideally, the Blue Jays would continue to exist but changes would be made (by their front office and by MLB) that would allow them to compete for titles more often.