Well, I do not think it is fair to compare a real life league to a sim league and here is why:
The respective ACTIVE FA who do not get a spot will likely get the impression (and apparently two of them already raised this question) that they are not welcome and that the respective GM's rather cling to IA OG members then sack the IA players and give people who at least update on a regular basis a chance/place to play. And we have nothing to dispell this concerns.
I am sure I do not need to spell out what this means in regards to retention of new players, if they did what they could/are able to do to be considered an asset and feel dumped and nobody gives a shit.
If the BOG was to raise the cap by say 3 million as Spartan took as an example, what do you think is more likely to happen? That a GM says: 'I have a 6-4-1 squad already I will hire now with that extra cash a depth player and throw my lines tops turvy' or would it rather be something along the lines: 'OOOh nice more cash to deal with. I sack an active depth player and get a high TPE player I could previously not afford.'
Not that I blame a GM for either approach, I just do not see it helping the active homeless FAs.