To be fair on the Hossa argument, those long, backdiving contracts like Hossa's started happening before "LTIRetirement" became so widespread a thing. Once a few intrepid GMs started doing it, and not getting any push-back from the league, did the LTIR loophole really start getting exploited.
Pretty much everyone knew that guys weren't going to be playing the whole contract a minute after they signed it. Originally, we thought because the guy already made $78M in 8 years of his 10 year, $80M contract or whatever, so why would he bother slogging through 2 years in his late 30s for $2m? He'll retire and the cap hit will go away. Then the LTIR loophole got popular and dude could just claim wear and tear once he was ready to call it and still get that $2M with the team only minorly inconvenienced.