If they tag Cutler it'll cost them around $16-17 mil, which is only $2 mil more than Schaub will make. Fitzpatrick is a backup QB like Mccown. I don't think he deserves top 5 money, but if you're great ideas to replace him are Schaub and Fitzpatrick then you have no idea what you're talking about. I think the Bears will offer him something in the $15 mil/yr range, so tagging him only costs them an extra 2mil thus making it a smart move.
I never said Fitzpatrick or Schaub would be better than Cutler. But the Bears could definitely get better bang for their buck with those guys, since they haven't put up numbers that are all that dissimilar from Cutler's, and both would likely come at a better price.
Fitzpatrick has plenty of starting experience, and look at his numbers over the last four years (Bearing in mind that he was playing for the Bills and Titans, both of whom have far worse supporting casts than what Chicago has offered Cutler):
12,686 yards
85 touchdowns (4.6% TD rate)
66 interceptions (3.5% INT rate)
60.6% completion percentage (1,131/1,865)
6.8 yards per attempt
11.2 yards per completion
97 sacks
56 games played/53 games started
QB Rating: 81.4
Cutler (over same span):
11,247 yards
74 touchdowns (4.8% TD rate)
49 interceptions (3.2% INT rate)
61% completion percentage (922/1,535)
7.3 yards per attempt
12.2 yards per completion
132 sacks (granted, his O-line sucked, but he also had a penchant for holding onto the ball for far too long; not a good combo)
51 games played/started
QB Rating: 85.4
Huh, not a very big disparity there. But, since Fitzpatrick is just a backup QB, let's compare Cutler to a guy like Romo (since I think we can all agree Cutler isn't on the Manning/Rodgers level).
Tony Romo
14,520 yards
101 TD (5.3% TD rate)
46 interceptions (2.4% INT rate)
66% completion percentage (1,261/1,918)
7.6 yards per attempt
11.5 yards per completion
114 sacks
53 games played/started
QB Rating: 96.0 (rounded from 95.97)
Cutler is much, much closer to Fitzpatrick than he is to Romo in nearly every category over the last four years. And Romo isn't one of the league's elite QB's. He's in the next tier of guys that are very good, but not elite. And Fitzpatrick is due $2.75 million next season, while Cutler is going to get $15 million per year or more on his next deal. He's paid roughly what he should be, based on performance, right now (roughly $10 million). But to pay a guy, who's never shown himself to be even close to elite, top 5 money (which is what a franchise tag would do and your projected offer isn't far off from) is just dumb. The Bears might not get better on-field performance, but they can get similar performance for a lower cost. Considering that quarterback play wasn't the problem, that's a good thing for Chicago.