In 1993 the Upper Deck Heroes of Baseball cards could have had a Mays New York Giants caption.
But if Mays gets back into baseball, and becomes a special coach for the Colorado Rockies, and they made a card of him in a Rockies uniform, then we'd know that the card must be after the 1970s or that the card maker was big time omniscient.
So to me, captions don't mean all that much. Look at Roy Ellam's caption in T206. Still, I understand what you're saying about them... such as Hub Perdue's caption on his 1915 Cracker Jack card has him with St. Louis, even though he's wearing a Braves uniform from when he was with Boston at the beginning of 1914.
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