This is such a dumb move. The team wants to pay Schultz + Gallup pretty much what Coop is going to make.
Paying Gallup, I don't hate in theory, but I know the Cowboys are going to screw it up. He's a good player who's capped out as a complementary receiver. If you write him a #2 WR type contract, and then play him as your #2, I think that'll work. But he's going to flame out as your #1.
And Schultz? Schultz only caught as many balls as he did because of Coop drawing coverage. He's a #4 checkdown option. That is a totally fungible role in the Cowboys offense, and you'll be paying a replaceable player like a focal point. He is going to suck if you ask him to carry a passing game.
If you had a Cowboys team with Gallup and Schultz, and you had a Cowboys team with Cooper and any mid-round rookie TE, I guarantee you you're going to get more passing yardage from the latter.