AFL doesn't have to offer ridiculous money to its players to retain them, because there's nowhere else they can go. A select few have had short careers in the NFL as kickers, but that's it. None has successfully converted to either Rugby code or soccer (and in this country why would you?) to my knowledge.
The NRL faces competition from Australian and international Rugby and English Super League. I don't think the AFL is a threat again, I think the experiment has been done for expansion purposes and while Hunt has been semi successful Folau, as predicted, is simply a source of ridicule.
I definitely expected a jump in cap higher than $5.5 million. I had $6 million in mind in the first year, potentially growing to $7 million by 2016. Considering that'd be a total outlay of $119 million (assuming a 17th team comes in around then), that's about the equivalent of half the annual revenue from the TV rights (and that's not the sole source of funding for the cap - gate takings, memberships, merchandise, sponsorship etc).
Anyway, I don't begrudge the game the payday it's got. I just still think it's ludicrous that there are delayed telecasts. Yes I know it was worse 15 years ago with the 1 hour highlights Sunday and delayed game Friday night, but that's not the point. 15 years ago there was just 5 free to air networks, pay TV was little more than a novelty for your rich nitwits, and the internet was about porn.
These days there's 30-odd FTA digital channels, pay TV is still overpriced crap but widely accessible, and the internet...well, it's still about porn, but most people have fast enough connections to watch porn (and sport) in HD pretty comfortably. Most people have IQ or equivalent PVR type personal recorders so they can watch non-live shows and skip the ads, so having ads on a delayed telecast is pointless. If I'm watching a delayed game I'll record it and watch it a further half hour or an hour behind so I can skip the ads.
In game advertising is the key product these days, something that gets shown regardless of the medium, and regardless of when it's viewed. Channel 9 wastes this opportunity by cross promoting its own crappy content and rubbish sports betting.
The fans could still have won with live games on free to air, and, heaven forbid, both games live on Friday night on separate digital channels, and the networks could still have made a motza on advertising.
So yes, the deal sucks because the NRL bent over for Nine to ram its outdated advertising mentality up its arse hole.