The bolded is exactly how it is going to play out. Even 45 million in cap room (take into account the bump) is not enough to replace the hypothetical of re-signing glenn and gilmore and replacing 6 STARTERS, other free agents, rookie pool etc. Even 50 million is not enough.
This thread is a lot of pie in the sky, but in reality it is going to be much more difficult when 31 other teams are trying to fill their rosters as well.
This team is not going to be better next year and it is going to be a direct result of the cap situation.