My mistake. Thought it was 2m. Still absurd to even think of offering that to him at the time.
I think you're worrying too much about the monopoly money though. The biggest problem isn't what's in the contracts, it's the contracts themselves. When a GM is signing players just to sign them which is what Grier has been doing (cheaply, as we all know for the most part), he's just adding unnecessary log jams for players with potential. Yes Kyle Burroughs can be buried for nothing if he is atrocious, but what was the point of signing him? To fill a spot for 3 years seeing as he has no potential more than what he is, and clearly had no value for the most part to others? Not a great plan.
Successful rebuilding teams who want to earn assets/be competitive/etc. do not go around adding as many soft scoring wingers and 6/7 defensemen as they can, regardless of how cheap they can get them.