Let's use this as an example. They cost much less when they were signed and the salary cap was lower. They each accounted for a smaller percentage of the salary cap when they were signed. That combined cost of $61.8m this year is better than if the Saints would have assumed it 3 years ago when the cap the much lower. That would have cost the Saints players 3 years ago because they wouldn't have had nearly as much cap space. Instead of getting this cap hit then when it's less manageable for 3 significant team pieces. You assume it now when it's actually a much lower percentage of your cap.
The PROBLEM is NOT that the Saints gave out these contracts. The problem is that they gave them to extremely old veterans and an offensive weapon who is amazing but would not have demanded nearly that much on the open market. The Saints made bad personnel decisions with those contracts. If those contracts are Hendrickson, Baun, and Chauncey Gardner and Ramczyk doens't have degenerative condition, the team is better and still in a great position to add players to a solid nucleus.