Market value is how much someone is willing to pay for the asset
in this case someone was willing to pay Fifita 1m
You're right in that different assets are worth different amounts to different people. But in a free market, Fifita was valued at 1m and there were supposedly firm offers for that (certainly there was from the Titans). To me, that's market value established.
But yeah i get it, that's just my opinion and what makes sense to me, and people might agree or disagree with that and say "No the Dragons/Titans are desperate teams playing OVER market value"
Id say the people making that case are going to be almost entirely roosters fans and fair enough! haha.
Perhaps the middle ground is he should be registered as a cap hit for the middle value of those two spots... If someone is putting a firm, official offer to Fifita for 1m and the Roosters only want to pay him 825k... the cap hit is 912k
The last para is spot on, it's not about talent distribution and it never has been. So i guess spit balling ideas of how the salary cap should work to help talent distribution is all a bit moot
And i also want to be clear, i don't view this as a typical roosters salary sombrero thing... TBH I don't think a lot of that holds much water most of the time, but in this specific case, they're turning over a fairly substantial amount of cap space and filling some of it with Fifita is entirely reasonable
I just don't think if the NRL was serious about the cap being a talent distribution tool, it would or should be allowing elite players to have cap hits so substantially below what someone in the market is willing to pay