From a fan and big picture POV, that is true.
But, the Suns controlled the revenues at Footprint, so from their POV, it made sense for them to not want to share a new arena with the Coyotes. Thus, they pushed for and got a quarter of a billion dollar renovation with about $150-160 million from the gov. and they paid $80 mill. And ultimately, that helped force the Coyotes out of town.
But, that only extended their lease by 15 years from 2022 to 2037.
Kind of why Houston has to be with Fertittia, Utah with Smith, etc. ATL, Hawks are not involved, thus another arena in a different county needs to be built, which is what the Coyotes tried for in Tempe and that last one (which as I understand was technically in PHX borders not Scottsdale), so didn't think it made sense for PHX to approve the land sale for another arena since they had Footprint.