The biggest factor in the US is that the biggest untapped areas aren't in "hockey" areas. Atlanta is top 10 in population as far as urban areas, and that failed twice. Phoenix is 12 - struggling. Miami is 4th with over 5M people and the Panthers still struggle. Seattle is the only northern market that has the population to support a team, but they can be fickle about their sports there so it's a risky market.
Undeserved is a tough adjective to use, because really, there aren't any options out there. You could say Arizona doesn't 'deserve' a team if there was an open market with untapped potential, but they just aren't there. Milwaukee has less people than the inland empire, it's tiny as far as cities go. For all their struggles, the Hurricanes draw pretty well considering the entire city population is below 500K It's very close to Calgary and Edmonton in metro size, unless you start adding Durham and Chapel hill, then it hits 2M but that's a spread out area.
I know the league is high on Vegas but I think it's a disaster waiting to happen, the economics in that area are like a violent see-saw. I think any expansion outside of Canada is going to ultimately fail. I firmly believe hockey is saturated in the US and is peaked in nearly every market, unless the league suddenly decides to greatly increase marketing.