Using the Rams as a counter-example of the Cowboys cap behavior ignores the history lessons we hope the Jones's have learned.
The Rams realize they have a special roster capable of going back to back. They have to seize the moment even if it means cap purgatory for 3-5 seasons afterwards. They have truly traded their future for the present because they consider risk/reward factor to be favorable. After all, how much longer are they going to have Aaron Donald and Jalen Ramsey playing together in their prime? Donald is going into his 9th season and I don't care how durable a D-lineman is, that's a lot of battles against a double team of 300 pound behemoths.
There is just one major flaw:
They are also banking on a repeat of similar injury issues, team motivation and focus. That is rare indeed.
As a Cowboys fan I realize that, although you may actually have the most talented roster in the league, there is a required degree of luck involved. This is particularly true when it comes to things like injuries and off the field issues. A team can be relatively healthy one season and then devastated by a sequence of injuries the very next season. There has been times when that has been the Cowboys main theme.
If this should happen to the Rams then they would come away with nothing except an empty future, having given away their premium draft picks as well as future cap money. That's the risk part.
Stephen Jones, or whoever really does the salary cap formula and passes it on to Stephen, is doing what he must because there is no viable replacement for Schultz at his present level of productivity.
This is not to say that Schultz is elite or even a top ten. That's just how pathetic the Cowboys TE squad really is. They simply didn't address it, and that could be a function of the present cap structure. In any case, they realized that the first wave of veteran free agency involves inflated contracts.
Some teams will do it if they feel they are filling in the last missing piece. They might even be desperate and their need call for experience and a proven level of productivity. Let's face it, the draft will always be a gamble, there have been "can't miss" players that completely busted.
The Cowboys didn't want to go the route of veteran free agency, so far. They also didn't really address it in the draft. Taking a TE in the 4th round in the hopes of landing a starter is unrealistic to say the least. It's not even a true 4th round pick. The supplemental picks have diluted the talent level expected of these draft picks. Ferguson was the 129th pick. Well, four full rounds of 32 teams is 128 picks. Don't get me wrong he could surprise.....actually shock. But that's not a viable strategy for filling a need.
Therefore, the Cowboys recognize that Schultz is very capable and opportunistic. However he is not an elite TE, the type you build an offense around. If Dak were to get more time to pass the ball deeper you would see a dropoff in Schultz's numbers. He is not much of a deep threat,
his average yards per catch is on the low end for starting TE's.
So the best thing for the Cowboys to do is either sign him to a "team friendly" contract or pay him franchise money for one season and see what develops later.