I have yet to see a compelling argument for a change in the NHL.
To me the best argument for having a soft cap is keeping contending teams together longer. As has been pointed out, teams like the Warriors and the Nuggets are able to keep teams together that were built largely through the draft. If you’re able to keep strong teams together, it creates better rivalries, and allows for fans to develop love/hate relationships with perennially successful teams (e.g., Yankees, Lakers). Like it or not, these factors always benefit and generate interest in sports leagues.
Putting our fan biases away - imagine if TB didn’t have to keep jettisoning players from its Cup teams. Or out West, if the Avs wouldn’t have had to immediately dismantle a tremendous Cup team. A soft cap at least allows for
that possibility. Teams can decide if they want to pay a very steep price to go that route.
We want to see best on best battling for championships. Parity is all fine and good - until you end up with this year’s lopsided SCF. Hockey’s inherent randomness already provides a good deal of parity. Further knee-capping well constructed teams, or teams that have to pay superstars makes the best matchups even less probable. I’d rather see years of McDavid vs MacK, for instance, on great teams battling in WCF - it’s good for the game.
As we have seen, the soft cap in NBA (which is getting tighter under this new “apron” scheme) doesn’t automatically mean owners are willing to pay the luxury tax. Even in big markets. There was significant gnashing of teeth in these parts over signing Draymond to his new deal, and they still might eventually have to move Klay to lower their luxury tax burden. It really only makes sense if you are winning team looking for more shots at titles. So I don’t think we’d necessarily see every big NHL market habitually going over the cap. Heck, it may even help some Canadian teams which have to pay a premium for FA’s as it is.
The super team issue in the NBA has less to do with the cap structure, and more to do with player empowerment - guys forcing their way out of situations. That mindset hasn’t happened in the NHL yet - maybe Eichel will inspire McDavid to want out in 2 years…who knows.