Interesting take.
I'll add that GMs put their team together the way they want and coaches should be feared. We don't have coaches though. GM puts the roster together and the coach has to make do if he wants to keep his job or keep a positive reputation.
Also, NTCs seem to be more reserved for elite talent, and with the Cap based on tpe and not market value, GMs can't save cap by offering NTCs, unless there's team/player options. There's no actual mechanic for Salary vs Contract Conditions/Obligations.
Also, you didn't talk about ELCs. Maybe they're too long? They account for roughly 1/3rd of a player's career, unlike NHL standards it's more like 1/5th (roughly) of a player career.
Interesting read!