One way of looking at it is they would have lost a pick if they re-signed Encarnacion (not their own, but the comp pick they would have gotten if he signed elsewhere), and they apparently gave him a pretty big offer at 4/80. If they feel Fowler will out-WAR Edwin over the next four years, and can get him cheaper (maybe closer to 4/65) then it nets out to the same amount of picks, just possibly dropping a few spots.