Saints Cap Moves: $27,092,090 cap space ….. 8 restructures, 3 extensions, 3 pay cut, 1 release [All current cap moves are in OP]

Can someone explain this to me like my IQ is 90ish?
Other teams are starting to pay mid QB’s 50 million a year so Carr thinks he’s worth the 40 million and refused to take a paycut. It was easier to restructure him and take the hit next season than to cut him this season.