Yeah I miss hockey a LOT!
Remember that the owners are not actually trying to reduce any specific players' salaries, but to put limits on the total payroll for each team. That is supposed to allow most teams to control costs, and possibly make some moeny. Also it is supposed to allow the "Small Market" teams to be competitive by limiting what the bigger market teams can spend. (See New York Yankees)
Later, in negotiations they will have that limit in place to show players that they can't afford to pay every player a bazillion dollars each. That is a bit different than actually trying to reduce individual players' salaries.
If you ran a business, you would have to decide how much you can spend on salaries. If other companies were willing to pay more, then the best employees would go work for them for more money. (See New York Yankees) However, huge payrolls do not guarantee championships. (See New York Rangers)
Just a couple thoughts,
Wristshot