4 mil a year for Smoak is not that bad, I agree with you.
Steve Pearce came off a terrible year last year, truly just an atrocious year, and he got 4 million. LoMo had a bad year as well. He got 4 million.
I imagine Smoak would have got at least 4 million. After Napoli and Moss he's probably the third best 1B on the market next season. Smoak just needs a platoon partner. I think the aformentioned Pearce would be a good fit.
I get the concerns about even rostering Smoak and committing 2 years two him like that. But the team has a ton of FAs next year and we won't be able to perfectly fill all the holes that they leave. Patching up one of those holes now makes sense.