I guess a better way to say it is that it opens up the potential for more money to be on the table. By clearing cap space, Vegas can take on contracts from let’s say Calgary. By clearing contracts, Calgary now has more empty roster spots and more cap space. They might just sit on that, or maybe they activate a draftee, maybe they sign a guy out if Europe or the minors for the balance of the season. That gets down to the particular details of each team. The point is that the number of empty roster spots leaguewide goes up by 1 and the amount of potential salary spending goes up by $X for every player who does this.
Of course that all catches up to them in escrow, but historically the PA has regarded cash in hand as the priority.
That’s not the issue, though. Of course the owners are fine with the loophole financially, but they are probably not so fine with getting knocked out of the playoffs. When it’s a non-cap-compliant team doing the knocking, an issue arises.