It discounts the reality that Snead gave up a 2nd and CJ Gaines to get Watkins.
He is NOT going to let Watkins walk if there is any way to keep him or it is going to reflect pretty badly on Snead. They now have enough cap space to do what they need to do to keep him.
That's why I think we'll see the Franchise Tag applied. It'll save face for Snead, and yet if Watkins doesn't show significantly more production next year, they're not committed long term. And by then, folks will have forgotten how Watkins got here in the first place and applaud Snead for the smooth move of not getting stuck with a multi year contract with a player whose production doesn't match it.
GMs have egos and reputations and they are going to protect them.
