By holding out, those players might get what they ask for: more freedom--more freedom to live wherever they want--without a six-, seven- or eight-figure salary, while the union lawyers desperately attempt to regain some crumb of credibility and leverage.
If negotiations resume, players might not regain any freedom. I don't see why the owners would give any freedom back. Once the antitrust case is struck down, owners can rebuild the league in every way that they want--not just in the ways that they negotiated already.
But in either case, by refusing to accept this deal, the small chance at more freedom will come at a price of significantly lowered compensation. There's no guarantee that the owners will allow any more freedom if negotiations happen down the line.
What is assured that the deal will be less attractive financially. The owners are gonna make the players pay for not accepting this offer; they already warned the players that they would, and they ain't going back on their word.
Sacrificing the freedom to play where players want is a small price to pay for the lavish salaries that NBA players receive--or used to receive. And they (used to) get 4-6 months off to live wherever they damn well please(d).
The financial beatdown that the owners are going to impose will be almost as entertaining as the sport itself.
Almost.