The game has far fewer loopholes right now than at any time in my 3+ years on this site. There is much greater competition, and many more types of strategies with which one can field a winning team. That is my opinion, but I know that a lot of long-time owners agree with me.
Loopholes will always exist. The simple reason: players have 1 salary, but the "value" of those players is highly dependent on many variables such as park, era, era of competitors, salary cap, etc. Owners will always look for ways to get maximum value from each set of player. Those players whose "maximized value" is sufficiently greater than their salary will be used a lot and become "cookies." And those strategies that create that surplus value will be what you refer to as "loopholes."
Think of it as the "invisble hand" at work in the SIM.
What happens here (and I think the SIM developers are very good at this) is that they watch and listen and learn and see what those strategies are. Where player value has not been sufficiently captured in the salary, they adjust the salary, or tinker with the SIM algorithm.
(As an aside, I also don't agree at all that there are too many errors. It's way too early to ascertain the impact of this most recent update, but just looking at the number of errors in the progressives I'm involved in, errors are within a very reasonable range.)