I would assume that the financial power houses, Toronto, Montreal, and the NY Ranges view revenue sharing as an investment in growing the over all market. And as the total market gets larger the value of their respective clubs increase. No doubt they have studied how the other leagues have faired, ie football, base ball etc.
As the lock out drags on they have got to wonder how much fan base they are losing. A gamble for sure. My guess is the owners are taking a long term view while the players want to make their dough right now because their careers could end any time.