What I don't get is that "camp arms" are guys you sign right before, well, camp. Undrafted FAs or guys like Peterman who can run scout team or just take some reps to give the other guys a break - they get signed in July or early August.
You don't sign a camp body in the first 2 days of FA, a month before the draft.
So I guess the "player/coach" angle makes the most sense.
Either way it's high comedy.