We tendered him as a 2nd rounder this offseason, so its not like we consider him scrap.
As for your logic - if we didn't want castoffs on our roster, what the hell are we doing with Antwaun Molden, Philip Adams, James Ihedigbo, Kyle Arrington, Sterling Moore, Sergio Brown, Josh Barret, etc., etc. All these players have either been released several times, went undrafted, been cut and re-signed by us, up and down off practice squads on our team and others, etc., etc.
You seem to have forgotten that most of the players inhabiting our secondary at the moment are castoffs themselves.