just making and assumption but go back to mid to late 90s when the salary cap was 1.1 million i think, the competition then seemed much more enjoyable there were more then 2 teams competing was a much more exciting period,
why not increase the cap to 900-1 mil but put in some other restrictions eg, a team can only side 1 10pt player or 2 9 pt players, restrict the amount of "marquee" type players a team could have, abolish any points reduction for players leaving a club eg bradtke 5 at tigers moves to bris as a 5 instead he should move as X points player determined by his ranking in his prefered playing position which may have ranked him a 7 or 8.
same with saville hes a 5 for the gong but to any other club he would be a 9-10
baring in mind that the points system should be the strict part, eg no points reductions on appeal, and all imports are a 10 but reduced to 9 for the 2nd season in the nbl and maybe further reduction to 8 if they stay 3+ years with the club,
maybe do something similar to the AFL if a player stays at one club for 10+ season he gets put on the clubs veterans list enabling half his salary to be excluded from the salary cap, this promotes loyalty and in the case of a gong they could offer him more and have half of it excluded from the cap like the AFL.
these are just thoughts but maybe its worth restricting it through how many point players you can sign with a certain value.