Colton is approximately the 60th highest paid center in the league. Strictly by the numbers that's low end 2C, elite 3C salary.
He's overpaid for what he brings to THIS team. He doesn't PK or PP (barely), is poor defensively.
He also injured his teammates like twice this year because he is so dumb and reckless.
Colton is on his deal that controls his first UFA years where he had arbitration rights and had filed for arbitration. You can't compare those to ELCs and deals off ELCs. Just different markets. Along with that, the cap moves. Colton's cap hit was about 4.8%.
Danault is the very definition of elite 3C $5.5m AAV
JGP High end 3C $5m
Compher good 3C $5.1m
Coyle high end 3C $5.25m
Gourde elite 3C $5.167m
Guys who have signed similar contracts to Colton: Chytil, Eller, Jenner, Faksa, Cizikas, Colin Wilson, Rask, Anisimov, Hartman...
Colton's contract is market value. It isn't better, it isn't worse.