That's 5 or 6 teams driving up the prices on a handful of FAs every season. Sure, they pay some mid range deals, too, but the vast majority of players never see those big paydays. Sure, when one FA gets $25M, one who is almost as good tries to get $22M and on and on, but when only 5-7 teams are spending big, the well is not deep enough to satisfy maybe 90% of the players in MLB.
Yes, the owners have "wised up," but maybe the players have (will) too.
Think of it this way, if the highest spending 5 teams all spend $30M more due to smaller or no taxes, that's $150M more. If the lower 25 teams all spend just $6M more, it's equal, but the vast majority of players get a significant raise. Going from $550K to $1.1M is a 100% raise for hundreds of players. If the players "wise up" they push for paying the bottom players much more and not touch the luxury tax limit much at all. Raising the lower spending team's budget's by $12M or more would be a windfall.
Higher minimum wage
Higher pay to yo-yo players
Arbs moved up 2 years
Free agency moved up 1 year
Possible incentives given to small market teams only if they spend more on arbs and free agency.
In the long run, most major sports leagues see the value of more parity. It's not easy to structure it to obtain it, but this may just be a side effect of evening up the pay for the lower and middle paid players in MLB.