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For example, here's a fallacy recently posted above: "Ultimately having more seats can never hurt you more than the cost of building them." That is totally false, of course. .
It's not totally false....Do you need a 20K seat arena if you are laboring in DIV? Of course not...but at the same you always want to have your Arena at least one division ahead of where you are because when you promote, you want those seats already in place to take advantage of the promotion bonus or you will be chasing dollars you'll never get back.
I started playing this game around the same time as a bunch of friends, and obviously, after the guy who got me into the game...I was more aggressive building my arena than they were, and I have also had more success than they have. Not that building seats is the secret to success, but when you are earning a significant amount of money more than your league mates because of your arena, it definitely gives you strong advantages.