Not sure about the "top 5 CB" comment, as PFT doesn't even have him on their top 100 free agents list, despite including 5 other RFAs and an "almost made it" section. I don't know if they made a mistake or not, but his absense is glaring.
I will certainly agree that he isn't going to get a long term deal AND a first round pick, although the team should be trying to lock him up due to the rising cost of the CB market.
PFT’s Free Agent Hot 100
That's clearly an oversight by PFT, and although they are flawed, PFF had him as their 3rd highest rated FA (they included RFA's), not just CB's but 3rd overall. FO's had him in their top 5. I know these services have to be taken with a grain of salt, but when we are "rating" players they are about all we have.
Meanwhile once they put the tag on Butler he'll be guananteed about a 350% raise, at least, and then be a FA next season.
The Pats will get killed by the mediots (Felger in particular) if they "just" pay Butler $4MM next year, but that is the system that exists and the players agreed to. It sucks for a player to get squeezed by the team when they are RFA's, but it sucks for the teams when they have to overpay FA's who will rarely play up to the level of the money they get, even when they play pretty well.
Someone is ultimately going to have to pay Danta Hightower over $12MM/yr over a LT contract despite the fact he only participated in 67% of the defensive snaps, and had 114 NFL players with more tackles than he did. But because he is an UFA and a good player, so he will get that money. In fact, hope it's the Pats who pay it.
IMO, you shouldn't criticize the Pats since the system works both ways. And my initial instict to feel bad for Malcolm, is almost immediately mitigated by the fact he WILL be making $4mm next season.