When you've got people dropping their IFA scouting to zero, because they know (correctly) that there is no use even trying to sign an IFA if they don't have at least $20 million to spare, it's not working properly IMO. I think it would be good to devise a system that would make it so that all owners feel that they have at least a shot at getting some talent out of the process, and also be able to afford to put some money towards ML FAs as well. As it is, there is a direct incentive for rebuilding teams to not spend a penny on ML free agents, because the current system allows for the best IFAs to always go to the highest bidder, no matter what. As mentioned earlier, this leads to good ML talent being unsigned, thereby diluting the ML talent level, and allowing for the creation of low-budget juggernaut type teams loaded with multiple franchise players.