I would argue that salary caps + drafts are very successful at evening out the competition. European football leagues have come to be dominated by very, very few clubs. Bayern, Barca and Real, PSG, to a lesser degree Manchester City, have been absolutely dominant in their domestic leagues. In the case of Bayern winning 15 of the last 20, and 12 of the last 13 titles. PSG has won 11/13 most recent titles.

In the meantime the NBA has had 7 different champions the last 7 years.