Without a cap we would go back to the same junk we had for years before the cap was put in. You would have 6-8 teams spending 90+ mill and the rest of the league spending 30-60 mill per and the league would be junk again there would only be a few teams to going for cups. With the cap in you need to Run your organization right or your going to stink, you can't just go out and toss big $$$ around to win. The Redwings did this for years and won lots of cups spending double what most teams spend.
Final four teams 2000-2004
2004) Philly, Tampa, Calgary, San Jose
2003) New Jersey, Ottawa, Minnesota, Anaheim
2002) Detroit, Colorado, Carolina, Toronto
2001) Colorado, St.Louis, Jersey, Pittsburgh
4 years.... 14 different final four teams (max possible is 16)... only 2 teams went twice.
Last four years
2016) Pittsburgh, Tampa, San Jose, St. Louis
2015) Tampa, Rangers, Anaheim, Chicago
2014) Rangers, Montreal, Los Angeles, Chicago
2013) Chicago, Los Angeles, Boston, Pittsburgh
Rangers goes 2x
Pittsburgh goes 2x
Los Angeles goes 2x
Tampa goes 2x
Chicago goes 3x
Only 10 different teams now...
Wait a second.... the idea that there is more parity now than there was pre-cap doesn't really hold water.
The fact is the cap wasn't needed for parity... it was all about salary control and cost control. The idea that it was needed so small markets could compete, thats the big lie that Bettman told the fans so that they would come back after the work stoppage.