And the hard cap says hello. How many plug pulls do you see around the league? You can't cheat the cap. Or you can, but only for so long. Get a productive guy on his ELC, and you sign him to a 500% raise, he's likely not going to give you 500% more in production. Give a guy fewer years, the cap hit is higher, which hurts depth. Try and lower the cap hit with term, and you're stuck with a guy longer. Try and trade someone before they have to get paid, the other team is going to know the contract issue too, and will need their own younger and cheaper players to offset the new big contract. Try and trade a guy when his value is high, when he's still relatively young, and in the middle of a great contract, and you're screwing yourself in the present.
You can pull the plug if you have a handful of big contracts that expire at the same time. Since that's sort of a rare situation, there's not much else to do other than kill time, and hope you lose for top picks to get some real talent, because nobody is going to trade you that kind of talent. If the contracts weren't guaranteed, and you could get rid of anyone that has gotten fat and lazy, that could lead to a different discussion, but that's not the reality of the league as it is today.