It's still an abuse of what LTIR was meant to be. Everyone either does it or will do it as needed, but long term wasn't supposed to be 5 years. It was supposed to be, oh, a guy gets a season ending injury, ok, we'll give you some breathing room so you can still try to win.
But with LTIR the way it operates, it gives teams an incentive to add a year to a contract to keep the cap hit down, while the player gets to collect a check.
If a guy is too hurt to ever play again, he should have to retire. The owner can pay him the money, whatever, it's just the up front advantage you get. Which is why the 7/8 year limit is a good thing, but even then, still too long when you're talking about 30 year olds. However, 30 year old UFAs are pretty much all that's available. That was the case in the pre-cap days too, but at least then guys were only getting short term deals, but that was because you could load up $21m in 3 years instead of 7.