I don't mind them doing that in principle provided the top contracts are worth it. However some of their contracts I question.
If they could justify all those contracts then it be perfectly fine and just how your team works out. There are some contracts they can not justify though.
Wilson - over paid
Lynch - over paid (you don't pay a RB this much)
Wagner - over paid (you can pay a LB this much but Wagner's play does not justify it).
Graham - over paid (last year really showed off his limitations)
Chancellor - over paid (reminds me a lot of Browner... good in his role but needs specific guys around him to work)
They have a lot of big contracts that are justified though.
Sherman
Thomas
Bennet
Arvil
Wright
All of them are IMO worth their contracts.
Given the current QB market, Wilson is properly paid. If anything, he might be slightly underpaid. A little high in guaranteed dollars, a little low in AAV. He's making about $2M per year more than Ryan Tannehill.
Lynch will become overpaid if he slows down at all, but for the moment he's really not. In most offenses, a RB cannot justify his pay. In that offense, he can. They don't spend money on WRs, and instead spend it on their RB and TE. That's fine.
What leads you to say that Wagner's play does not justify 4/43? The injuries? I guess I just disagree, I think he's right there with Luke Kuechy for top young ILB in the game. Kuechly, Wagner, and Hightower are the big 3. CJ Mosley will be there if he makes the expected progression off of a strong rookie year, and Bowman will be there if he makes a full recovery.
Agreed re: Graham. His height will always make him deadly in the red zone, but IMO he's just a really big, pretty good slot receiver. As long as he can be shut down right big, aggressive press corners, I won't have a very high opinion of him relative to the salary he commands.
Disagree re: Chancellor, though. He's locked in for three more years on a contract so team-friendly that he's currently holding out. $7M per year for one of the best strong safeties in the league isn't a bad deal at all.