Looking at the ladder both ends of the spectrum might have meritYeah back when I did the original analysis for 2017 I started off by using the AFL averages, but then realized that to figure out roughly how much cap space we have, you really need to slot in players to specific values within the $100k brackets the AFL provides. Because if you have everyone at the top of the bracket, you're well over the cap.
If I did a similar analysis for a team like Geelong or Sydney, as you say, I think these clubs' significant proportion of draftees and depth as well as top end star power would skew things a different way.
I think if my guesses are close to the mark, we have made an error in giving out too many fat mid-tier contracts in favor of an extra star or two. If you look at our list profile it's reflective of this too: we only have a small number of really top-end players, but then pretty reasonable depth down to almost the 30th best player on the list. I'd like to see our depth reduced in favor of better high-end talent.
I also suspect that these mid-tier contracts are what has been holding us back from obtaining top-end talent through trading. I've had a suspicion that we never quite offer the right (high) dollar value to recruits and that's a limitation brought about by having too many depth players. On the other hand, Sydney and Geelong have no issue recruiting top-tier players from other sides, but have rubbish depth. I think we are at one end of the scale and those teams are at the other, and the best structure is naturally in the middle.