Sure the cap is going up...but so our our salary hits and numbers of FAs:
Adrian Amos, Dean Lowry, Randall Cobb, Mason Crosby, Robert Tonyan, Marcedes Lewis, Allen Lazard, Jarren Reed, Elgton Jenkins, Yosh Nijman, Keisean Nixon, Johnathan Ford, Krys Barnes (plus less important: Abram, Watkins, Leavitt, Wilson) are all FAs.
Aaron Jones has a cap hit of $20M (looks like $15M savings if cut), Savage has a cap hit of $7.9M (all base salary, so 100% possible savings there)
For current projections, we are $1.6M over
So for devil's advocate, let's cut Savage and Jones for the cap. So we would have around $21M in space (rough calculations - but should be ballpark correct).
Certainly there are other things that could be done to reduce other cap hits - Bakh at $29M, Clark at $24M, Jaire at $20M.
But you still need to fill:
Starting RB (who is our best playmaker)
Two starting safety positions (zero depth)
Kicker
Both of our best TEs (with zero depth)
Starting RT (Tom could step in here, but Yosh has been very valuable the last two years)
Starting WR (Lazard hasn't been great and injured often, but Rodger's comfort zone.
WR depth - Cobb has actually been good when not injured.
Starting G - Depth there, but Jenkins was one of the best before being injured
Two Starting DEs - Lowry probably won't be back. Reed has been good. Have some depth here, but not for 2 starters.
And sign our draft picks
in that $21M cap space. Even trying to tread water and keep the talent level of this current team is going to be a challenge. Upgrading seems impossible.