As the 2025 NBA Finals approach, the playoffs have already provided a plethora of memorable highlights, intense matchups, and performances that encapsulate the essence of the league and its stories. With exciting moments still ahead, the focus shifts to analyzing the significant narratives from the postseason through the traditional 'winners and losers' framework.

Historically, the Boston Celtics, Chicago Bulls, Golden State Warriors, Los Angeles Lakers, and Philadelphia 76ers have dominated the NBA Finals, collectively making 43 appearances since the NBA-ABA merger in 1976. However, this season has seen significant anomalies, with Philadelphia and Chicago missing the playoffs entirely, the Lakers eliminated in the first round, and both Golden State and Boston bowing out in the second round. Meanwhile, the New York Knicks, representing the NBA's largest market, also faced defeat in the conference finals. Unlike other sports leagues, the NBA has tended to revolve around dynasties and storied franchises, but the upcoming Finals will feature teams from smaller markets: the Indiana Pacers and Oklahoma City Thunder, ranked 22nd and 26th in market size, respectively.

The notion that possessing the best player or a dynamic trio can guarantee success appears to be challenged this postseason. Owen Phillips of The F5 newsletter argues that basketball functions as a 'strong link' sport, where the team with the most influential player often triumphs. Conversely, in 'weak link' sports, the absence of a weaker player becomes crucial. This perspective helps explain playoff outcomes, as teams with weak defensive players or reluctant shooters can struggle significantly. The current trend emphasizes the importance of roster depth, exemplified by the Thunder and Pacers, which have both boasted evenly distributed contributions from nine or ten players throughout their playoff journeys.

As for the legends of the game, LeBron James and Stephen Curry are synonymous with the glamour markets previously discussed. James, who has graced the NBA Finals ten times, and Curry, with six Finals appearances, have both seen their dominance wane this season. Moreover, contemporaries like Kevin Durant, Chris Paul, Damian Lillard, James Harden, and Kawhi Leonard all faced similarly disappointing playoff exits. This shift suggests the end of an era defined by James and Curry, as newer teams such as the Thunder, Pacers, Houston Rockets, and Minnesota Timberwolves emerge as contenders.

The 2025 postseason has showcased a new generation of talent, including reigning MVP Shai Gilgeous-Alexander, along with teammates Jalen Williams and Chet Holmgren, as well as rising stars like Anthony Edwards and Tyrese Haliburton. Giannis Antetokounmpo and Nikola Jokić have made their marks in their early 30s, while Luka Dončić and the Boston Celtics' duo of Jayson Tatum and Jaylen Brown remain as notable figures still in their 20s. This changing of the guard hints at a bright future for the league, suggesting that a new star will eventually emerge.

In discussing the length of the NBA season, some analysts advocate for reducing the standard 82-game schedule. While the rigorous nature of a full season poses challenges, the potential risks of injuries underscore the valid arguments for a shorter season. The injuries to key players like Tatum and Lillard during this year’s playoffs have reignited the debate on player health against revenue from game attendance. A reduced schedule might not only foster healthier teams but could yield a more competitive regular season and playoff experience.

In addition, initiatives like the in-season tournament have garnered attention, as teams like the Pacers and Thunder, who performed well in the tournament, now find themselves in the Finals. The impact of such competitions may contribute to the hunger exhibited by younger teams entering the playoffs, particularly following their tournament loss.

Despite injuries impacting their performance, the Cleveland Cavaliers stand out as one of the postseason's disappointments. With an impressive 64-18 record, their first-round dominance over the Miami Heat raised expectations; however, they were unceremoniously eliminated in five games by the Pacers, leaving lingering questions about the fit of their star players and their paths moving forward.

On the other hand, the Indiana Pacers have showcased resilience and patience following their surprising conference finals run in 2024. By holding steady and trusting in their roster's development, they advanced to the Finals, exemplifying the virtues of depth and strategic gameplay, particularly through the guidance of notable players like Tyrese Haliburton and Pascal Siakam.

In terms of postseason results, the Denver Nuggets, while eliminated in the second round, exhibited strong performance led by Jokić. Despite organizational turbulence, they proved to be formidable contenders, having pushed the Thunder to seven games, where they nearly clinched victory in critical moments. While discussions about potential trades loom, a focus on roster adjustments may yield better results in the future.

Lastly, the Oklahoma City Thunder emerge prominently as the postseason's biggest winners, solidifying their status as a burgeoning powerhouse with a deeply talented roster. With this impressive showing, they rebounded from the challenges of the past and are on the cusp of achieving championship aspirations.