Hopefully that's exactly what happens -as others have mentioned, most if not all of the other clubs would be fairly close to their cap limit and not willing/able to pick up the full tab for any player Parramatta release.
The problem Parramatta have is that they are legally obligated to keep paying the full amount to a contracted player unless/until they can negotiate a release - no player/manager is going to absolve Parramatta of their contractual obligation if it means losing money...so they may well be forced into a situation where the new club pays only part of the player's salary and they have to keep paying the rest. There are players all over the comp being paid by multiple clubs for exactly this reason...hopefully, in practice it means that Parramatta have to shed a lot more players than just the one or two their fans seem to think. It may not be a matter of just dumping one player on, say, $500K - it may be a matter of offloading half of this guy's salary, half of that guy's, $100K of someone else's.
And, don't forget they still have to have a 'Top 25' squad contracted, and there's a minimum wage. So offloading $500K-$600K isn't that straightforward, for every player you offload you move at least $85K back ONTO your books as well.
This, other clubs have Parra over the barrel and they know it
Only thing that would stuff it is a desperate club like Newcastle being overly eager