The Redskins seemed to have botched things with Cousins, although not knowing what actually went on in negotiations, it's hard to be sure. Smith is a capable QB, but he's 33 years old and has a history as more of a game manager than a star.
Agree, from what a couple of good NFL reporters said a few years ago, After year 2 of RGIII, Redskins made the move to Cousins (3 years ago). The coaches loved him, and McLoughlin, their GM at the time drew up a 5 year 40 mil contract (8 mil a year) that he worked out and Cousins was amenable to. Still unproven late rd pick on a crappy deal for another year, but good pay at the time. Snyder (owner) shot it down, and since then Cousins has taken the road of Washington had better pay full value now.
Instead of 40 mil on a deal that would take him through the 2019 season, they spent 43 million on deals that let him be a free agent now.
As for the Skins, sure, Smith is a fine vet, they'll pay him a lot less than cousins, but still that contract is MASSIVE.
And of course the last time the Redskins traded for a 33 year old Andy Reid QB who had a resurgent pro-bowl season leading his team to the post-season and then re-signed that QB to a massive deal because Reid wanted to go with his unproven youngster... the Skins traded for Donovan McNabb... Andy's traded 3 QB's before Smith. McNabb, Feeley, and Kolb. All brought some big returns for Reid, none worked out for the other team.