Fair enough.
However, I would not be surprised to see guaranteed contracts slowly phased out. We saw something strange happen to the Mets, who opted out of their contract with Kyle Farnsworth, for only a few thousand bucks. The Red Sox and other teams have been adding health clauses to contracts for a few years, noticeably John Lackey.
There has been a very noticeable decline in the quality and impact of high cost free agents. Players in their 30s just don't perform as well as 20 year olds nowadays -- especially pitching.
If the league rid itself of all of those one-dumb-owners out there, contracts would crash. Someday....