I agree with you 100%. But at the same time Pittsburgh and Buffalo are in different situations because they are in markets where they can garner tons of support and have the opportunity to sell out most nights if the team is made up correctly. The Devils are in a sh!t market and no matter how good this team is, we'll never be a club that fills up its building every night (as we've seen in the past).
Basically what I'm saying is that ownership in Pittsburgh has every reason to spend in order to make the team better, since they can be assured of higher revenue if the team succeeds. The Devils don't necessarily have that, and I'm not sure if they'll ever have it. In that case, why would an owner pick up this team and really spend his money without regard to revenue in the short term?
I don't know what the new CBA will bring, but the NHL's money losing owners have to look at the fact that basically 10 teams drive the NHL's revenue (and could afford a salary cap 50% larger than the current one) and the rest of the teams collectively break even. So what you have is a salary cap that continually rises even though revenues are largely stagnant in a majority of markets.
Again, I reiterate - you can't be a bottom 10 team for many years without being completely mismanaged. The salary floor prevents this - you've got to be paying someone.