Somehow I think this is part of the game of chicken so to speak.. Cobb has to be looking at the QB's around the league and thinking that anyone willing to pay insane money will probably have a QB issue and his production will dip and so will his chances of securing a second (and probably last) big contract. Or he can stay in a system designed to leverage his talents and have confidence that his production will stay up.. maximizing his marketability for that next contract.
Look at what Jennings and Jones have done outside of GB.. walked into a bad QB situation in which they tried to fix in a backwards fashion. There next contract is going to be tough to seek good money, although one could argue Jennings offset that with this contract.
My opinion, if you are in a good position upon a good football team for take slightly less to ensure long term earning viability in a non guaranteed league. Long term thinking.
I am sure that the thinking isn't to just let him walk.. but instead really thinking that the demands at this point are too steep and hoping that it is adjusted in FA. It is a risk to getting blown out of the water by some crazy money.. I just don't think the market is going to be that strong for WR.
"The oranges are dry; the apples are mealy; and the papayas... I don't know what's going on with the papayas!"