If your team has enough star power, then good players like David West will gladly polish your bench for min salary. Honestly the majority of players getting min salary are no name journeymen or youngins who have not established themselves yet. There is a small number of middle tier guys who are underpaid on their current contract, but usually if they remain healthy, they will be overpaid on their next contract, so everything balances out nicely,
PHI is interesting team, but its recent history illustrates nicely how hard is it to stick to non-orthodox practices. It is also dreadful experience to be their fan, I imagine.
Seems like a quick solution to balance out this mid-tier overpay lunacy is to raise the minimum salary to a level that forces a reasonable % of the team's salary to go into the bench.