The Penix pick has to be separate from the Cousins contract when considering things.
Q1: Is 36yo Cousins coming off a mid-season Achilles tear worth 100M guaranteed for 2yrs plus 35M dead cap in 2026 or 135M over 3yrs.? Nope. Rodgers and Carr are the top/bottom range for Cousins and ATL over-paid (15-30M). That injury at that age should have resulted in a better contract for ATL.
Q2: Was drafting Penix at 9 a reasonable pick? Yes. ATL just signed a 36yo QB coming off an injury to a 2yr or 3yr deal. They likely won't finish worse than 7-10 which keeps them out of the top QB draft range. We have seen terrible years for QB talent over the last 4 drafts. If you like the pick, you take it. Nobody would question this ATL move if we traded up to 9 in 2017.