He said that Lehner would not be on the cap THIS season. He did not say that Lehner's cap hit was removed entirely.
Looking at the Richard settlement, it is clear that termination fees are charged in the year they occur at the exact rate that they are paid out. They aren't charged with an AAV starting from the termination date.
My prediction is that the settlement is deferred salary (No relation to the rule used in the Jarvis contract). Deferred salary as in, Lehner won't get his settlement for a few years, and there is no cap hit until the settlement begins in 2030 or whatever the date might be.
If Lehner is dealing with creditors, that might prevent or dissuade them from going after that money, and instead convince them to take a lower payment now. If Lehner isn't the best with money, and they agree to splitting that 5M over 10 or 20 years, that also ensures that along with his NHL pension, he probably can't become completely destitute. The above is obviously speculation based on what has come out in news articles, so maybe the guys financial situation is actual peachy.
The only way I see this as circumvention is if there was a previous agreement for Lehner to miss the physical, with the idea being that the settlement would be win/win. Even if it was, there would be no way for the league to prove it, short of someone involved being stupid enough to put it on the record. I also don't know if that would meet the league's definition of circumvention, I'm just saying that in my mind if it is premeditated, then other fans are right to cry circumvention. If it wasn't premeditated, Vegas just got lucky.