I agree.
But just from another angle, wouldn't holding back the 'unused' money encourage clubs to spend the cap, which could also be a good thing?
I think if they give the money outright as a lump sum, then you will have teams that will try to make money out of it. i.e. if we can put out a team for only XYZ of 2.5 mil, who cares how they perform if they make us money. While they are entitled to make money out of it, what does that then do the credibility of the league putting out a team of hacks on minimum wage. It would not happen but the potential for abuse is there.
I agree that the teams have to spend to the cap limit or anything not spent is not given to the club (or perhaps find some other use to benefit the club with out it being pocketed)