To me the real issue is why we feel we need to follow the Cincinnati Bengals model of cap usage.
IMO, putting a huge amount of cap space on the WR position is never going to get us back to championship territory.
Keeping Pickens would be nice. He’s a very talented player. Is keeping GP critical to getting to a SB again? No. It might even be a roadblock.
It really comes down to team identity.
Right now, the only identity they have is "great offense" paired with a "horrible defense".
As I've posted in other threads, I'm more optimistic that Parker can improve this defense than I was before Nolan, Quinn, Zimmer (second tour) and Eberflus coached their first Cowboys game.
That said, it still remains to be seen if he can improve the defense with the players they cannot replace in 2026.
Without the Cowboys offense in 2025, they would have been lucky to win 3 games. With that offense and a mid-tier defense the Cowboys might have won 10 or even 11 games.
I have said many times I'm not a fan of #1 receivers. I would rather have four #2 receivers because it makes it harder to game plan against you when the defense has no idea who will be featured on any given play and if you lose one to injury, you have more who can step in and not alter your offense.
That said, right now, the Cowboys are reliant on their offense scoring points until the defense proves otherwise.
Knowing that, I'm good with bringing back Pickens though I'm not keen on having two $30+ million receivers long-term.
Now, if Pickens would play for the franchise tag salary and play well like he did in 2025, that would be ideal because it would give the Cowboys a year with Parker to see if he can improve the defense enough to not have to score 30+ points every game to win.
So while I'm not fond of paying two receivers huge contracts, I do think having both Lamb and Pickens in 2026 would take some of the pressure off of Parker and the defense and allow the team time to figure out what works best with the defensive players they have and might target in 2027 as well.