It just depends on if you think this FO should lead another rebuild. Team is no more than two years away from entering one. Their prospect development/amateur scouting seems below average right now.
Blair fwiw, says Jays offered 6 years around 125 million last season to Chapman.
https://www.sportsnet.ca/mlb/article/why-reunion-with-matt-chapman-was-not-in-cards-for-blue-jays/
Modest offseason suggests the Blue Jays are putting themselves in a position to pivot off this core soon. Would be detrimental for the next competitive window to saddle yourself with a bad contract or blow prospects.