Until Kobe signs a contract worth $50M the argument is moot. Another poster, foreign, talked about how very few teams have the financial ability to sign players to such high contracts. The situation in Europe is going to get worse before it gets better, so there's going to be even less money available in the future.
But regardless, if the Indiana Pacers struggle to sign FA because of location, eventhough they can over pay, do you REALLY think that players are going to move to Europe? Uh, no.
Let's not forget that LeBron took a pay cut in order to go play somewhere outside of Cleveland. Let's also not forget that all 3 of them took a pay cut to play in Miami, had they decided to go play somewhere else.
The NBA is the NBA for a reason. It's the top of the mountain, and players aren't going to move to Europe and thousands and thousands of miles away from their friends and family in order to play for less money, in some pretty dicey situations. (I mean take a look at all the riots happening in Greece)
Until NBA players actually start signing contracts for multi-year deals worth big time money, the argument is pointless. Hypothetical situations aren't going to drastically change the course of the CBA discussions.