While you are correct about there not being a bad contract, the idea of having a lot of cap space, or the general idea that freeing up space alone is a good thing, is more complicated and less desirable than having a homegrown answer to where that money is going. They’ve always kept their cap number fairly close and had at most around $25-30M going into an offseason, and they’ve wisely used much of that to extend their own players. The problem is there isn’t much to get excited about for extensions, so there’s a pile of cash and no corresponding value in the FA market at that high level of dollars. This is what happens to almost every team in the league, but they have avoided it by drafting really well and investing in their own, while keeping a little left over to round out - not build - through free agency.
When I say they’ll figure it out, I am referring to the two top guys, Belichick and Kraft. I know that Belichick signs off on every deal and that he is responsible for many decisions, but I imagine that the scouting and the intel departments are under scrutiny.
Gostkowski's position allows him to play many years, so I'll skip him along with Brady since Brady is not human. A lot of key players are approaching the point in their careers where you can expect a fast decline. Again it wouldn’t be the worst thing in the world if there were a lot good younger options developing and improving right now. A handful of young players are good to decent, but in the past you could easily name ten emerging, promising players in their rookie deals.
Edelman - 32
Slater - 32
McCourty - 31
Hogan - 30 (granted, less mileage)
Chung - 30
Cannon - 30
Gronkowski - 29