It might emphasize the horridness of the original contract, but that's about it.
Bad contracts happen to all teams. Not all teams compound the problem by being put in a position where they have to wait until year 4 (or later) of an initial 5-year deal to break even by cutting a guy. See Brandon Carr, Tony Romo, DeMarcus Ware.
Make no mistake, restructuring pressures teams into, and often results in, hanging on to a player longer than they would have otherwise. Does Carr see year 3 of his contract if the team has a net gain of $6M in cap space by cutting him? Hell no, but if it costs an additional $4M in cap space to cut the guy then it really doesn't make any sense to do so because you have to replace him and even a small contract for a CB with experience is going to cost something.
You might say that the problem lies in the original contract. I say, if there was a team that could avoid these problems (to be read as, "never signing a bad contract"), such a team wouldn't restructure because they'd be so far ahead of the game that they would have all the cap space any team would ever need. Never make a bad free agent signing? That's a fairy tale.
Try convincing anyone to do anything under the assumption that they will never make a bad decision. No risk, and all reward? I'm in! If it was an investment strategy, people would go to jail for running a Ponzi Scheme.