It's a lot of dough but the guy has never missed a start. Consider how much money 'elite' pitchers like DeGrom or Sale were paid to barely pitch any innings. With deferrals, Cease is being paid $26mil AAV. Boston gave Sale a 5-year contract, $29mil AAV, and he only pitched 151 innings for them in 4 years to a 3.93 ERA after signing the extension. Rangers extended DeGrom for 5 years, $37mil AAV, so far he's pitched 213 IP in 3 years. Burnes just signed for 6 years, $210mil ($35mil AAV) and now he's 31 and recovering from TJ. This contract reminds me of what the Yankees gave Rodón which is to say I think it's an overpay but he's still a valuable pitcher who will almost certainly perform across the life of the contract. I figured he would sign for 1 year and get a bigger deal depending on his performance. I'm sure a lot of other teams were offering him that.
Anyway, congrats to him. It'll buy a lot of frisbee golf.