Originally Posted by TheBigLebowski
BABIP does not explain away the bad seasons for Schilling and Johnson you referenced.
You're missing the point. In essence it is in a simplistic form a measure of "luck". So when someone has a bad year, a bad stretch(or a good stretch), etc, it helps to assess if it was due to talent or did luck(BABIP) play a part in their success/failure.
It allows one to assess whether success/failure is likely to continue or if their is a likely correction coming. Someone can have a "bad or good" year due to their BABIP and in contrast to their talent level.
When deciding who to target and acquire I would say trying to assess whether luck has played a part would be a big factor.