If Jets had applied for arbitration in June, Dubois would still have an opportunity to obtain an offer sheet between July 1 and July 5. Jets would expect to get a 1st and 3rd in that situation. If the Jets matched the offer sheet, they wouldn't be able to trade Dubois for the year.
That ultimately turned out to be a major pressure point. The offer sheet compensation would be the floor of what the Jets could get but it forced the Jets to get a trade done pre-July 1.
Montreal had no leverage in this situation. An unprotected 2024 first from Montreal would be absolute gold. However, other competitors like Carolina could have swept in with that offer sheet.
Overall, happy what the Jets got especially given the pressure of having to make a pre-July 1 deal.