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I disagree
1. Not everyone started playing PB with an "even" chance as you state. I took over a team that was among the worst in my league and am trying to rebuild it. I have NEVER had a chance in any of my three years at even coming close to the playoffs. In fact, I've lost over 300 games. Why are people leaving PB? I think most don't feel like paying $10 a month to constantly lose when there is little hope of them getting any better. Most teams that are 80-90+ in PB value don't trade - they don't need to, so that leaves owners to work through the rookie draft. I've done that, and maybe, MAYBE next year I will win 50 games (and that is after 4 years trying!).
2. In the "real leagues" there are obstacles to teams amassing and keeping great talent. Revenues, other teams willing to pay big salaries, free agency, all help keep most teams competitive - we NEED PB value restrictions because PB has absolutely no obstacles in trying to build a team. There are no salaries, no bonuses, no lost gate revenue, no tv revenues. You don't have to worry about egos or players wanting to go to a better team - so how do you try to keep a competitive balance and some movement? By limiting PB value. Don't think of it as a cap - think of it as your team having reached the maximum it can spend. It's all in the mind.
3. The rookie draft should remain as it is (although only 4 teams should be in the lottery - not 8) but I think the free agent draft should remain random. I agree with what you said in regard to top teams bringing in the money to afford high priced talent (see my post below in Mike's thread) but think that changing it to meet this will only reverse efforts to help restore balance to many leagues.