I'd certainly agree that it's a problem for many clubs, along with agent's fees, transfer costs etc. On the other hand though the players may see it differently.
Let's say a club is turning over £10 million (to make the figures easy) and has running costs of £2m, player wages of £6m, and the owner takes the other £2m, but somehow the wages now get halved by a new rule. That leaves £3m that might be used to stop the club getting into difficulty, but the owner is going to pocket the rest, and all of it most years. If you're a player - the one actually doing the work and reason the club is making money - you're going to want a fair share.
Salary caps and other things may make financial stability easier, but they also take away a club's (off field) advantage over it's competitors. Blackburn obviously saw spending money they don't have as a way to get to the money they want. Most owners will do this as it maximises their profits. I can't see most of them wanting change, and especially the higher up the leagues they are.
So you're right, but there aren't going to be enough people interested in change to make it happen.
A fair reply but rather than say the profit goes to the chairmen, why not say that the profit is what gives the club something in the bank to pay for incoming transfers or ground improvements etc :)
It is not going to happen but if something doesn't change then there maybe won't be the clubs around for these players to play for or against to earn their vast wages, a lot of clubs are balancing on the edge of a precipice and we just do not know how they will fall in another few years.