I have to totally disagree with your example of how many F-16s are acquired compare to Mig-29 if we are looking at their capability in those terms. Indeed Block 50 is hell of an aircraft and totally revolutionized while Mig-29SMT isn't that of a great aircraft, its only upgraded to SMT to defend the Block 50 technology or actually resist it. I dont see any chances of Mig-29 fighting in the future war no matter what version it is.

I would rather pay a few million dollars to get a fighter in class of Gripen than wasting all my resources on Mig-29.