Is this setting us up for an insane offseason where someone like Bismack Biyombo gets 5 years/60 million just because teams with cap space want to use it while they have an advantage?
It's more likely you'll see some really bizarre 1 year/1 year + team option high-dollar deals. Kinda like Jordan Hill getting 9 million per, or the Bogans contract.
I think you're much more likely to see that in 2016 than this summer. Money to burn, might as well splurge for a year or two while we figure it out.
It's important to remember two things:
1) the 2017 cap may look very different if there's a new CBA.
2) if the current CBA holds, the NBA has been forecasting a cap decline in 2018 and 2019. At least, that was part of their arguments for the cap smoothing proposal. It's not just the spike, it's the drop on the other side.