There's a cap in the minors but not in the VHL. You never made it clear the suggestion would purely be for the VHLM. In any case people still don't create above 80 TPE so that leaves 120 TPE for them to gain before the cap. Players with full carryover are likely to play the best to start so they'd just cap faster: rich get richer.
Most players spend at most 2 seasons in the VHLM; 1 pre-draft and 1 post-draft. Chances are in that time they wouldn't hit many of these milestones so the difference would be minimal at best. In practice, as I mentioned above, it would just take the best players and get them to the cap faster.
If anything the fantasy stuff is less random than the sim TBH. The sim is at least 75% luck with the other 25% coming from knowing what attributes to add to. At least the fantasy stuff you can choose teams likely to win. The achievement tracker and pay for awards reward you for getting better; I don't see a reason to add extra TPE for that. Becoming a better player is a sufficient reward IMO without having TPE attached to it.
I'm not sure I understand your complaint. Players made earlier are in a different draft and should have plenty of TPE by the time the deadline comes around and any recreates get made. In addition, something like this, as I mentioned, wouldn't really be an alternative. For one, it would still count toward those vets so the bar just slides. Second, it wouldn't come up that often unless we make it far too easy in order to make up the difference.
I'm not trying to be argumentative; I just don't see how any of these points counter the rich getting richer. Rewarding sim performance will only make the better players stronger and give them more advantages. It's like giving tax breaks to the rich; it doesn't help the poor any.