That works until the players realize that chicago, new york, and los angeles give them the best marketing opportunities and it basically degenerates into those 3 cities with the occasional boston thrown in there as "Destinations" for these free agents.
the league is broken and lebron did it. i honestly don't care either way, but the fans in the other 25 or so cities will and so will the owners -- there's going to be blowback on this eventually.
salary isn't how these extreme high-end athletes make their money so "salary caps" only enforce that the bigger cities will win bidding wars
When is the last time that the Knicks, Bulls, or Lakers won the title? How many teams did KD turn down? Why did LaMarcus Aldridge turn down other teams to go to the "small market" Spurs? Why couldn't the Lakers get anyone to play with Kobe in his final years?
As long as there is a draft, then the team with the next star player can still pay that player the most when his contract is up. So I don't automatically see those 3 cities automatically getting a market on the championships.
Tim Duncan showed that you have to be willing to take less in order to strengthen a team. If superstars want to make super teams, someone will have to be unselfish in order to make it work.
Now, if you get rid of a salary cap....then yes, I could see the scenario where it comes down to a half dozen teams in the big markets.