I agree with you, although even those guys at the end that you mentioned are unlikely to be anywhere near the worst contracts in the sport. Even if all of them are complete negatives, their total hit isn't even that bad. Combined they probably make less than Anthony Rendon's contract. Or Stephen Strasburg's.
True horrendous contracts are guys that were paid star level contracts for their performance in their 20s, with the contract mostly in their early to late 30s - Pujols, Miguel Cabrera, Xander Bogaerts. Or pitchers, the most likely to be albatrosses due to injury. Robbie Ray is in a 5/115 deal, he had one okay season in the first year of the contract, missed practically two straight years with TJS, and might suck now.