Fehr's implication is not that all teams spend to the cap - the cap and floor are determined by the midpoint. If everyone spends to the cap, escrow likely takes back salary unless the NHL beats last year's revenue by a significant margin.
The owners are going to get 50/50, just not right away. As Fehr has pointed out, yes, the NFL and NBA went to 50/50, but no one's paychecks were cut. Everyone got what their salary said.
When Fehr says the NHL offer is a 12% salary cut... is he not directly saying 57% dropping to 50%? ie ((50/57)-1)