UFAs get disgustingly bad contracts. We see multiple examples every year, right from the day the deal is signed you just know they can't live up to it.
At best Hayes is a $5M guy on your second or third line, 7x7 is just absurd.
It's a great haul. I'm all for trying to pry Kirilloff or another top hitting prospect from elsewhere, but if teams balk at giving up the elite young bats, we at least need to raid the f*** out of a high end pitching cupboard.
A lot of folks would point it out as evidence of how bad Jake Allen is, probably a bit more to it than that - although Binnington did give them the best goaltending they've enjoyed in years.