It's not as ridiculous as you think. To continue to abuse the hockey analogy, there are ~979000 registered hockey players in the US and Canada[1]. There are 30 NHL teams, each with a contract limit of 50, for a total of 1500 players. That's 0.153% of all hockey players in North America.
EDIT: Need to read better, that's an order of magnitude off so it is a bit ridiculous.
[1] https://en.wikipedia.org/wiki/Ice_hockey#Number_of_registere...