I got the feeling that the point of Moneyball was that Beane was looking to take advantage of market inefficiencies.
At the time, OBP was not considered to be as important as it is now - he looked for high-OBP players, knowing that they wouldn't have salary demands as high as more "traditional" players. Thus, he was able to field a competetive team at a lower cost than other teams. He also exploited the over-valuing of closers as a way of obtaining low-cost talent, but that doesn't get brought up as much as OBP.
Sabermetrics play into it as a way of analyzing players and helping to pinpoint those inefficiencies, but it's not the be-all, end-all, either. As more and more teams utilize the same methods - often with higher budgets, it becomes harder for Beane to work under the radar.
In some ways, the 2005 Sox team had some of that Moneyball feel, signing undervalued players (notably Dye, Pierzynski, Iguchi) to inexpensive contracts. Sure, KW's approach wasn't remotely as stat-based as Beane - his target were players that were considered risky for various reasons, not players who possessed a certain skill set - but the results speak for themselves.