The players have backed down from significant demands such as earlier free agency and universal two year arbitration, both of which affect young players and how they're paid. The compromise has already been made on the player side of things and the owners continue to make pretty insulting offers to the pool money, which is much more beneficial to ownership than two year arbitration or early free agency.
Never mind that owners, until recently, have been countering most of their "compromises" with something completely outlandish that often saves them more money than the "compromise" they proposed. In essence, they've been "giving up" 50 cents in one place and then asking for 60 cents back somewhere else, all in the same proposal. That's why you get the feeling the players keep saying "not good enough"... because they're pissed off, and rightfully so.
While I'm also unhappy with the players in this, the owners have not been negotiating in good faith. They're definitely the bigger problem in this situation.