It's a good thing for the league and the fans. Teams should have some kind of financial leverage to hold onto their star players. Otherwise we will keep seeing these super teams formed.
+1
It's great for teams with really great players they drafted.
Not so great for teams that have positioned themselves to try to trade for or sign one of those players.
This is a really important point. Teams will be affected differently depending on what stage they are (tanking, rebuilding, playoff contender, championship contender).
Second, I do not feel comfortably with the idea of giving the ppl who decide all-nba teams and DPOY the power to affect rosters and salaries.
I can see this easily becoming an extremely contentious issue with fanbases after a couple of controversial decisions.