"It's not as if they made any huge signings this year, is it?" McIlroy told The Telegraph of London.
"They haven't signed anyone who moves the needle, and I don't think they will. I mean, they could re-sign Bryson (DeChambeau) for hundreds of millions of dollars, but even if they do, it doesn't change their product, does it? They'll just be paying for the exact same thing."
McIlroy's remarks were his first public comments since former LIV Golf team captain Brooks Koepka announced his return to the PGA Tour.
"This is great as it gets Brooks back to where he belongs," McIlroy said of the five-time major champion. "He is one of the best players in the world, and anything that makes the traditional tours stronger is a good thing in my book."
Under the PGA Tour's new Returning Member Program, LIV Golf participants DeChambeau, Jon Rahm and Australian Cameron Smith are also eligible to come back, but the three have said they are staying with the Saudi-backed circuit as it enters its fifth season.
LIV Golf's biggest signing this offseason was Belgium's Thomas Detry, who recorded his lone PGA Tour win at the WM Phoenix Open last February.
Other signings include 23-year-old Australian left-hander Elvis Smylie, who has two professional wins to his name - the 2024 WA Open and the 2024 Australian PGA Championship.
McIlroy speculated LIV Golf was headed towards serious financial obligations.
"A lot of these guys' contracts are up," the Northern Irishman said.
"They're going to ask for the same number or an even bigger number. LIV have spent $5 billion or $6 billion and they're going to have to spend another five or six just to maintain where they are.
"Look, I'm way more comfortable being on the PGA Tour side than on their side, but who knows what will happen.
"As ever time will tell with all this, but I'm so happy to be with the PGA Tour."
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