Pretty close, but here's another part. Last year the money to split was $8bn. This year, it's $9bn and the offer presented some time back was actually for players to get more money in cap this year than last year so it's not like they're losing anything except percentage points. They're actually continuing to increase, but at a decreasing rate.
In other words, instead of players' salaries raising 10-15% per year, they'd be more like 5.
I see why there's an argument and a need for a deal, but I just don't see how the players are suffering any sort of injustice for the owners to decide to keep paying them more money.