This is horrible for the sport. Get a cap, get some parity, and maybe you'll get some ratings in the playoffs.
A good reason why I don't pay attention to the standings but still check stats for my favorite players (triple crown contenders Hamilton/Vlad/Cabrera/Morneau, Ichiro, Lincecum, Halladay, Lester, Straburg, Victorino, Howard, Utley, Mauer, Pujols). I don't really root for teams but more for players nowadays (although I'll always root for Phillies vs Mets!).
As one of my favorite sports it's sad to say but I couldn't care less about who wins what division because the best players all go to the highest payroll teams (both NY Teams, Boston, Chicago, Detroit, both LA teams, Philly). Essentially a handful of super-mega Allstars that win it all every year. Occasionally the little guy will win like Tampa Bay or this year's Reds/Padres, but it won't last til the end of the season.
Playoff baseball is leaps and bounds behind the NHL, NFL, and even NBA because of a lack of monetary parity (i.e. a cap). Who wins in baseball is simply irrelevant, it's been proven XYZ times in the past decade that payroll = almost guaranteed playoff spot unless you have sh!t management or injuries (see the Mets). Greed is a helluva drug and winning in baseball has been rendered moot by the teams who buy their way to the playoffs such as the Yankees, Mets, or Red Sox.