It's only a problem if you don't think he can get over 1000 yards like he did with the Texans the last two years. Dude is still an above average WR. $12.5M for a 1000 yard WR is a bargain in this league short of someone being on a rookie deal.
Not a bargain for a #2 WR. Cap-wise, he is in the top 10-12 WR in the NFL. A restructure could cure that, at least for this season, but will have to pay sometime.