I think the owners are right in keeping the cap down. Paying your players more doesn't make them better. Where are all these Americans that we can suddenly sign if teams had more cap room? They don't exist.
We could increase the cap and sign more foreigners, probably, but that's not a long term strategy for improving the league. By keeping the salary cap and international player slots low, we are actually encouraging teams to set up domestic academies to develop talent. Which is what our incentive structure should be doing.
Until we start losing non-DPs to foreign leagues at a substantial rate, there is no reason to increase the cap. The simple fact is our players are getting paid exactly what the international market values them at.
Look no further than Mix. One of the better Americans in the world, and he still fits snugly under the cap as a non-DP, and nobody else in the world is offering him more money. Seems to me that the cap is calibrated quite well.