Steinbrenner and the Yankees shouldn't gain an edge simply because they are in New York, a city with a huge population and great opportunity for TV deals, and the Montreal Expos shouldn't suffer on the field because they can't acquire a TV or radio deal either. With a salary cap, or even merely with revenue sharing between teams, low-budget teams would be more motivated to compete. The Twins have no motivation to spend more money when the Yankees spend five times as much as they do. The Yankees would still have more talent and higher salaries, but the gap would have been greatly reduced to a payroll of twice that of the Twins. Suddenly the Twins have motivation to spend, and with a little luck, a chance to compete for a playoff spot.
Baseball is still a great game, but there are too many things wrong with the current system.
In spring training about 15 teams know already that they have no shot of making the playoffs. Fans in the majority of the big league cities are forced to watch pathetic baseball simply because their teams don't have enough money to be competitive. Teams can't afford to re-sign their star players, making them into mercenaries who sign with the highest bidder. Stars are supposed to be the ambassadors of their teams and their cities for their whole careers, not mercenaries who jump ship every few years. The World Series was played between two of the top three teams in payroll and was won by the same team for the third consecutive year.