Sure, but getting a top pitching prospect and turning 5/98 (Tulo) into 2/48 (Reyes) is still pretty good even with Reyes' decline. They didn't even want Reyes, they just needed to take the salary to improve the trade offer.
Imagine if the Jays traded Tulo prior to the 2017 season, got a top pitching prospect, and took back 28mm in deadweight to cover for the 4/78 Tulo had left on his contract. We'd all be pretty happy, I think.