Your boss comes to you and your 1,000 or so co-workers and says,
"We have a product here which generates $5 billion in revenue. I propose giving you the employees $2.5 billion to split up any way you like as long as no single employee receives less than 0.85% of the revenue, and no single employee can receive more than 20% of the revenue. After providing a pool of 50% of the revenue for employee salaries, the franchise owners will then be responsible for paying all other operating expenses out of the 50% of the revenue the business generates. At the end of the year after all of the revenue is collected we will settle up and make sure the split is 50/50. To ensure either side will collect their 50% share, an escrow account will be created to pay the side which received less than their 50% share."
Yeah, the man is really ripping off the employees here.
You want to go back to the old system? Fine, then expect 8-10 teams to fold, the Kings will go back to being non-competitive in terms of having a high payroll, and a few teams bankrolled by owners who don't look at it as a business will have teams that dominate every season. I seriously doubt the rank-and-file players want that, because around 220 NHL players, and even more minor league players will be out of a job.