No it has not happened yet... because it's a PROJECTION. I haven't retired yet either... but I'm GOING to. Also a projection. That is the "oddest" reasoning I've seen. The cap had gone steadily up with revenue. Then COVID hit and there were massive shortfalls that caused escrow issues. That's why no/minimal cap increases since the pandemic. That issue will be resolved during the next season, and the NUMBERS say the cap will rise significantly. Again, this isn't voodoo or hope, it's math. No one said it was going to increase before next season. And if, say, NYR and LA had been in the SCF, it might have been resolved this year. Instead it was a Final that wasn't watched and didn't up the revenue stream enough, so 24-25 it is.
Yes there is something to stop them from kicking the can: a CONTRACT. They were within their rights not to raise it yet. In 24-25 they will NOT be within their rights.