I definitely would have mixed reactions. Would be super excited to see the Jays landing one of the biggest FA's in the history of all sports. At the same time, the type of figures and years thrown around for a player who is going to be 30 + and who might only be strictly regulated to a DH role and not be an elite pitcher anymore is a bit concerning long term.
Pretty much, you have to hope Ohtani hits like Barry Bonds for the next decade to justify the contract if he is strictly a DH. Not sure how many years you can get from him pitching at an elite level, but I doubt he makes over 25 starts again in a single season. I said this before, but would save him as a pitcher only in the second half and for the Postseason. No need for him to make starts in April. Jays have the luxury and depth to do that.
At the end of the day, not my money and as a fan would love to see Ohtani here. Obviously understand the risks involved in a long term deal like this. Gotta hope the Jays take advantage in the early years of his contract in terms of going on a serious run for a World Series. Flags fly forever and if Ohtani helped bring a World Series to Toronto in the next 2-3 seasons, doubt we care what happens from 2030 on with the Jays.