Max cap doesn't stand for much in hockey. The difference between the cap and floor is 23M (87.7M cap, 64.7M floor). The floor is bad for hockey, in the sense that it forces teams to pay at minimum 64.7M. Of course that's going mean some guys to be paid more than they are worth, just so a team reaches the floor.
This is especially true for many 2nd to 4th liners and lower pairing D -- guys who are much more likely to extreme fluctuations season-to-season. It also ensures some guys are given long term high AAV deals, with GMs knowing full well they will be bad in the 2nd half or last 1/3 of the deal, but with a potential buyout option.
It's easy to overpay 2-5 guys by a few million each and all of a sudden a team that should be paying their guys below the floor (based on talent) is forced to play floor money, a floor team is being paid as if they were an average team, and an average team is being paid like a top 10 or team or better.
It much worse in baseball where you have the top 10 teams spending 200-300M, and the lower 10 teams spending 64-108M. Even the difference between the top 10 MLB teams alone (100M) is more than the NHL salary cap, and also roughly 5x the difference between the NHL floor and cap.
Then dig into how some of the top 10 teams are doing (BJs, Houston, Mets - ie all really bad), and some of the lower spending teams are doing (cleveland, baltimore, milwaukee - ie good / really good).
Spending to the cap in hockey hardly means a team is trying to win. That can easily be achieved by a small handful of guys who got overpaid, which happens to even the best GMs / front offices.