Nido has another year of control. As a ML catcher Amaya isn't worth $700 let alone $700k. Nobody's claiming Amaya so no need to hold a spot in the 40 for him.If the Cubs can re-sign Nido. He might prove over the balance of 2024 to be a better 2nd catcher.
Finding a solid backup catcher might be a challenge if the impression is Cubs want to bring Ballesteros up at some point in 2025.
Amaya is only 25- so Cubs may be willing to work with him on defense/bat over the winter. Also, Cubs are cheap and paying him $700k to be a backup might be easiest path on a roster that has bigger needs to address.