If it's not a high-risk strategy, it seems hard to explain it as something directly caused by salary floor protection.
But in
(309376.990), it does seem that four teams actually went bankrupt.
And in
(309376.996), it also seems that a team really did buy a lot of players without investing in things like arena expansion.
Excluding personal choices, the only thing I can think of is whether salary floor protection is misunderstood or misperceived — for example, thinking that player salaries don’t need to be paid during the protection period.
Maybe the beginner tutorial (I no longer remember what it looks like) could include more reminders about financial matters.