For anyone completely scoffing at the idea of giving Campbell something like a 3 X 4.75-5M contract, what is your proposed alternative?
i.e. who specifically is available in free agency or trade that is a clear upgrade over Campbell, and who also makes sense given their expected trade cost / caphit? Teams with only one starter aren't going to trade their starter, and if you look around the league, there aren't really any Luongo/Schneider, Price/Halak, etc type of situations with teams sitting on two bona fide starters.
Boston is probably the closest thing to a team with two starters, with both Ulmark and Swayman having played 40+ games and put up good/decent numbers. But Ulmark's career save % is worse than Campbell's - so I don't really see how trading assets for a goalie who has a 5M caphit and who on paper doesn't appear to be any kind of upgrade over Campbell makes sense, and Boston isn't going to move the 23 year old guy who makes under 1M. Beyond that? Varlamov? The 34 year old 5M goalie who's had a bit of an up and down career - is that better than Campbell at the same number? Gibson, the 6.4M goalie who hasn't topped a 0.904 save % in 3 years? Kuemper in UFA - he's going to cost 5.5M+, and that's assuming he isn't re-signed by Colorado.
Other UFA options like Husso, Francouz, Comrie, MAF, etc, might be great 1B options, but not really guys you want to go into the season with as your proposed starting goalie for the playoffs.
I don't like the idea of giving Campbell that type of contract, but unless you can actually propose a realistic better alternative, I don't see how it's helpful to just shut down that option down immediately.