Been saving this one up for some time, and I thought it'd be good for my 4000th post.
Ultimately, I don't think there's nearly as much wrong in the NBA as most people make it out to be.
People look at the parity in baseball and football and ask why can't we have it in basketball. The answer in simple: because in basketball, the best team almost always wins. That doesn't always happen in football and baseball; in fact, I'd argue it often doesn't.
With baseball, teams seldom dominate. It's considered to be a good season if you win 90-95 games, which equates to a 45-48 win season in the NBA, which is good, but hardly the record of #1 seeds. The fact that "great teams" in baseball only win 55-60% of their games, while great NBA teams win north of 80%, truly tells you just how much chance factors into baseball.
With football, great teams win 80%+ of their games; however, with the 1 game playoff format, bad teams get lucky. Spin it how you want it, but if the 2001 Patriots played the 2001 Rams in a best of 7, they're losing 4-1. Same with the 2007 Pats and the 2007 Giants.
Furthermore, I don't see a lot that can be done about stars dominating the league. The simple fact of the matter is that in basketball, a guy like KG can play 40+ minutes per game and influence the action on both the offensive end of the floor. In football, even the best quarterback only plays the offensive snaps and is powerless during special teams and defensive plays. And in baseball, a great batter can only change a game if he's up and a great pitcher can only influence the game he's pitching on the days he's pitching.
The only change that I'd consider in the new CBA might be a more tiered salary system by teams. For instance, only allow each team to have one max deal and then maybe 2-3 slots at 10 million, 4-5 at the 5-7 million range, and then the rest at minimum deals or so. That way, it'd be very hard for teams to stockpile truly elite players without certain players making major concessions. I think that would go a long way in giving parity in the league and also preventing teams from giving max deals to "B" level superstars like Joe Johnson.