As long as he plays well after he earns a hearty pay day, I do believe that teams above the cap have a competitive advantage if the owner doesn't mind paying the luxury tax and they aren't stuck with a lot of players on bad contracts.
Even then, we'll probably be above the cap by the time Holmes's deal is up and if he's still here, we can move him to a team desperate for an expiring for a player who hopefully has some value.
My biggest question is when this team is a playoff team will Vivek and the other owners be ok with ponying up the tax bill if that's what it comes to.