Thats exactly right. They paid him prematurely IMO. However their cap situation allows them to do that, IIRC.
I think it may very well turn out to be a premature mistake. But given their current cap situation, it’s a potential mistake that may be worth some risk. I suppose they’d rather be sure they can keep him if all goes well this year. If he bombs, they can have their back up QB and still have the money available to get a starter elsewhere