A business doesn't succeed by not growing the customer base. A sports franchise doesn't succeed by only doing things for pre-existing fans. Etc.
The "pre-existing fans" in this scenario are the experienced players who pass their knowledge down to the new players. Without them the new players will lose interest just as quick.
The problem is salaries have been lowered and incomes have been raised from what they were many seasons ago. There is so much extra revenue accumulated from that, even with taxes to try and reduce income, teams still have stockpiles large enough to keep driving prices up.
People will argue that newbies can't catch up, but the reality is they can and the way they can is what is hurting the game. It is far more profitable to train youth and win 3 games a season than it is to have a competitive roster. Even if you promote, the bonus barely covers the cost of salaries (let alone purchasing prices).
Taking money off people who earned it is unfair, but you are right in saying money needs to be taken out of the game. Raising salaries, lowering incomes and flooding the market with free agents and staff would be the fairest and most effective way to do it.