A reason that the narrative has gained popularity is the success of a few teams with large amounts of restructured dollars over the past few years. The Eagles, Chiefs, 49ers, Lions, and Rams are a few. It seems to be working for almost everyone but the Saints, Cowboys, and Dolphins, who have all put themselves in the laughing stock category of the league.
I will agree the common thought the cap will keep rising so it doesn’t matter isn’t really accurate. The cap will continue to outpace rising cost of players but the difference between the two isn’t so large. Contract value has exploded the last 5 years with no signs of stopping.
The way around it is to draft a young player that can take the place of the aging vet that you are tied too. That will help offset some of the damage to the cap. That is much easier said than done.
FWIW, I’m a firm believer the Lions goal needs to be to at least get to a Super Bowl. If that crates chaos and 3 win seasons down the road, so be it. They have to take full advantage of the window they have right now.