In arguing this, there are 2 terms everyone needs to keep in mind: "lock-out" and "hard cap".
Stern wants to eliminate the concept of "Bird rights". If he gets his way, and he always has so far, it will no longer be a matter saying "who cares if we are over the cap, as long as PA is willing to pay the luxury tax?" That will no longer be an option. Signing Oden to a fat extension could have the pratical effect of ending any chance of re-signing Batum and Bayless.(and others, down the road)
To be blunt, it seems like some people ignore/forget this part of the equation.