I think less important is how much a team carries in one given year, but rather the duration. Things can turnaround quickly for a team where suddenly cap space is needed. The last thing you want is to have an opportunity to acquire a good player player and not be able to pull it off because you have too much dead cap. Or have a situation where young players exceed expectations and you don't have room to sign them. It's one thing to be in cap trouble because you have "too many" good players, but another to be there because of dead cap space.
I'm all for cap retention this year, and probably next year. But I would be apprehensive to go beyond that.
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"A pessimist thinks things can't get any worse. An optimist knows they can."
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