I don't get people calling this a terrible return.
This is completely in line with what players like this go for at this point in their development/contract status. Anybody expecting more than a late 2nd or a 3rd wasn't living in reality.
He is arbitration eligible, which was likely a key factor in limiting his market. Teams aren't going to want to give up major assets, have him do fine but not great, and then have to decide whether to risk qualifying him where he could get a high arbitration ruling that is above his actual market value but below the 4.74M walk away number.