2 things: 1) Just because other GMs overpay lots of other players doesn't mean that it's okay for Charlotte to overpay players. Mark Cuban gave Diop and Haywood lots of money, should we follow suit?
2) "They have to spend the money somewhere." Yes and no. Yes there is a salary floor but that penalizes you at the end of the season I think. We could have kept that salary room to absorb a bad contract and picks or facilitated trades by being a 3rd team. To me, a team that says "we have to overpay somebody!" just screams incompetence.
If you think Al Jefferson is a good get in basketball terms, that's fine. Tell me he's a consistent double digit scorer and rebounder, I won't disagree with you too much. But rationalizing the signing because other players have bad contracts or we suck so therefore we have to give out bad contracts is weak so don't be upset when others have disagreements.
I think generally, most of you see Jefferson as a stepping stone to get out of the cellar and move towards relevancy. If that's the case, then where is the historical evidence of this? After he became an established player, Jefferson was traded from Minny to Utah for 2 1st rounders and Kosta Koufos. So Minny gave up building around Al Jeff, a key piece acquired in their trade of Garnett. His stay in Utah was a tumultuous one (in terms of success) and Utah decided to let their leading scorer and rebounder leave in free agency in favor of a rebuilding youth movement. Now, third time's the charm? Does Charlotte have the magical pieces to build a successful team around Jefferson? Or in 3 years are we going to be letting Jefferson walk in favor of Zeller and Biyombo (or big to be drafted later) like Utah and be none the better for it save for Jefferson being 41 million dollars richer? (this is a rhetorical question but feel free to yell at me if it makes you feel better)