Well, just about every country or company has a minimum salary.
To me, those who worked their way all the way up to the majors and play a full season, deserve a bigger piece of the mega pie that $550K.
Even $1M seems low in this context. I said just $1M, because I think that's the highest the owners might accept. Just my opinion.
My general point has been that even the players should look at giving up something at the top to greatly enhance the lower and mid-range players, who happen to make up the vast majority of MLB players.
MLB is not like a normal union shop where seniority a pay are based on years of service and job assignments. I was in a union, once, that was facing a tough negotiation. The company had grown by so much, they were hemorrhaging profits. Ownership sought to divide and conquer. They knew the majority of workers had less than 3 years of seniority, and the previous contract had 7 step raises based on 7 years of service, so they offered a bone to just the newbies and just a minor raise to the 7 year+ workers. They offered a 3 year step raise to top pay, thereby giving the newer workers what amounted to 7 raises in 3 years.
I had been with the company for 3 years, so I saw the biggest raise possible- nearly a 60% raise in one year! I voted no, because I planned on retiring with this company and felt like raising the top pay was most important.
MLB is not like this. Hardly anyone reaches "top pay," and they don't work until they are 65 years old. That's why I am thinking the lower guys need the attention.
I realize it is my point of view, and others have very different views, too.