But the wagecap doesn't work though does it?
Just look at Accrington's title win 2 years ago.
In a utopian world, which I know will never happen, clubs would live within their means according to their actual income. If you have a part-time club with crowds of 800 then you should be able to survive pretty well. If you are a full-time club with an average gate of 3,000 then, again, you should be able to survive pretty well if honest people are in charge.
The problem comes from clubs whose spending and ambitions go too far beyond their actual means. The only way clubs with small crowds can be full-time is if they are bankrolled by individuals. The problem with bankrolling is that, what happens when the individuals money runs out? You end up like Canvey Island. And that's what will happen, and in some cases already has happened, to the likes of Woking, FGR, Ebbsfleet etc who will not sustain full-time football in the long term.
Well done to your club for resisting the "sh*t or bust" tendancy shown by clubs similar to you because you will still be around when they are long gone to some feeder league as an "AFC".