I think both sides are being ridiculous. I find it really hard to believe that 22 out of 30 teams are losing that much money. If that's the case, then they need to freaking improve their teams. I mean...I can understand Cleveland, Detroit, Golden State, and the Clippers losing money because their teams are terrible, and I can understand the Lakers, Celtics, Heat, Bulls, OKC, and Spurs making money because their teams are good. If all the other mediocre teams are not even breaking even, they need to change the way they run and market their teams.
As for the players, they get enough money as it is. They should require scholarship athletes to take a finance class in college so they don't do stupid stuff like buy 8 cars once they're in the NBA. I know a lot of them grew up in poverty stricken ghettos and whatnot and they're entitled to splurge a bit, but come on. They don't need to be making that much money anyway. A lot of them don't even deserve a lot of their money.
In the end, I think the owners win overall. Maybe not to the extreme extent of what they propose, but teams will be pretty restricted in terms of moves they can make after all this. Sucks for us...probably won't be able to afford a better SG and might barely be able to extend Rose.