A 24% rollback should breed a working system, with maybe better values in luxury tax revenue sharing. Shame on the PA if this was a PR move (why does it matter what the public thinks anyway? we aren't involved in this process), but its a good offer IMHO. Like somebody on TSN said last week, a monkey could probably work with this and make money.
One thing that bugs me about this whole thing is the NHL's position that it needs long-term, systemic changes. A collective bargaining agreement is never permanent. This particular offer is for 6 years. Bargain that number down if you think the league will be worse off before then. If things are still bad when it expires, get more money back and toughen the tax and revenue sharing.
If the PA is not going to take linkage, theres no reason why the league just can't work harder at maintaining the current system.