If there was no salary cap big market teams (Toronto, Montreal, NY, etc) would just spend their way to success. You’d never see a Stanley Cup champion in Vegas or Carolina or Tampa. The NHL has been trying to grow the popularity of hockey in this country for decades and the salary cap and the draft have by and large been successful at doing that.Yep, that's why they have that idiotic cap in the NHL, to insure profits even for the stupid owners & franchises.
Would be much better if everyone would have to live by their decisions and be more responsible & careful with them.
European football has no such need. Pretty much every one-horse town in Europe has a club competing at some level and everyone seems happy with that. And of course you have oil money and (until lately) Russian oligarchs pouring money into their clubs, which is something that wouldn’t fly very well in the US.
As someone who started watching hockey in the late ‘60s, I do think things are better when Toronto, Montreal, NYR, etc… are relevant but at this point I don’t think anyone really minds that they have to compete on a more or less even playing field. Same generally goes for the other leagues here, the salary cap and the draft have (for better or worse) made the NFL into the 8 million ton gorilla that it is today. And the owners are very happy with that.