If he does get cut, it will be the third big name receiver in 3 years that was a disappointment and was overpaid for (ocho, Lloyd, and amendola if his performance was not injury related).
They somehow hit it out of the park in 07 -- Moss, Welker, and even though Stallworth dropped from 3 to 4 on the depth chart behind Gaffney, Stallworth was still worth the amount he was paid.
Whereas since then, the free agent receivers have all been misses.
Ocho was worse than useless;
Lloyd was a disappointment (compared to his cost, including the 2nd year dead cap money);
Amendola might live up to his contract if he performs as originally expected going forward, but the decision to swap Amendola for Welker at even money was definitely the wrong one. But if he's cut, then it will be one of their biggest FA busts.