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"Welker shouldn't get paid because he's old and going to be in inevitable decline" will eventually be the right answer, because Welker will eventually lose the age/injury battle, just as everyone does. When that happens, all the IBBIT types will crow about having been right, just as Felger crows about being right about Moss in 2010, after having been wrong about Moss for the 3 years prior.
Exactly, couldn't have said it better. I thought the Welker decline would already be happening, due to his size, reception counts, and the way that he plays the game. I was obviously wrong. Eventually I'll be right, but based on what we've seen out of Welker over the last five years, I'm no longer even remotely sure that I'll be right in the next 2 years. Based on that, I think the Patriots are taking a bigger risk by not signing him to an agreeable contract than they would be taking by signing him.