Every league impasse and lockout has been around the league not fully or accurately reporting all their income. Plus the NHL does a poor job of factoring in corrolary income source, rise in team worth etc. No doubt the league is lagging behind other pro sports leagues and that the players are getting paid less due to the NHL doing such a shitty job marketing and managing its own product. Of course accounting can be creative and the NHL is likely underreporting revenues. Its longstanding with the NHL.
Marketing wise and not allowing star players to do their magic on ice is a major fail for the NHL. At onset McD was one of the most marketable sports figures around. The NHL has completely botched this, like they did formerly with marketable players like Crosby.
I don't agree hockey is a hard sport to understand and embrace. I don't think thats a factor either in what makes top sports. Maybe its me but I'll die before understanding baseball or cricket. I'll never figure out the actual applied rules of "travelling" in basketball, and football takes a lot more explaining of rules than hockey did. Harken back to when I first watched sports. Dad would turn a hockey game on and say just watch, you'll figure it out. With Football there were all these necessary explanations about what on earth the game is about. In hockey its intrinsic and intuitive the object is to put the puck in the net. Aliens would figure that out.
Hockey and Soccer are on par as easily watched understood sports. Of course theres nuance and much more that goes into it but neither sport pre-empts viewers on understand or embrace level.