If Machado wants to sign a record-breaking contract the Phillies will help him do that. The only thing that might stand in the way of that is if Harper can get the same (which is questionable right now, given his numbers, and also if he'd rather just stay in DC, though Rizzo's usually happy to do what Boras wants).
The Phillies have a ton of things they can do this off-season, including trades. It's fair to presume they will pursue controllable players aggressively if they miss out on Machado, but there's no reason for them to give in to the Orioles' demands on July 10, unless there's actually a deal closing with another team.
If I were a team looking to get Machado at all costs I'd figure out if there was a way to take Chris Davis off their hands too. That would be a long high-$ commitment, though some teams have still managed to flip guys like that.