No that is not my point. Obviously if any league offers significantly more money than the IPL, players will happily give up their IPL commitments. However, if all leagues offer the exact same financial package, I believe that players will opt to play in the IPL over the other leagues.
The IPL has become a huge deal and it is pretty much international T20 cricket in franchise form.
Obviously money is the major reason why players play in the IPL and it would be disingenuous to deny so, but that takes me back to my belief that if all leagues achieve parity in terms of money, the IPL will still attract the bigger players.
Someone like Afridi might choose to play for Karachi Kings over RCB if they offer the same money because of national sentiment, but I do not see why someone like de Villiers would choose to play for Zalmi over RCB, unless Zalmi offers him more money.
The IPL franchises are established brands with massive fan following, and the pressure of playing in the IPL is greater than the pressure of playing in the other leagues.
If we ignore the money factor, playing for IPL franchises means more than playing for other franchises, and the comments of Root and Finch etc. in recent times suggests that the players see the IPL not only as a paid holiday but also as an opportunity to genuinely improve as cricketers.