I would have rather they signed Chapman last year than Bellinger, but that scenario only exists in an alternate, Kyle Tucker-less world so whatever. Every single person would have lost their horsefeathers if we had signed no one last year, and while he wasn't the best he was certainly better than a Jordan Montgomery path. It's fine, wish he would have played better and then opted out, whatever.
You can play the market perception game both ways. We have a logjam and a money crunch, the Yankees need a guy like Bellinger and him at 2 years is probably better than Santander at 6 or whatever. Both teams have a bunch of things going on right now and sorting out the combination of money and prospects heading in either direction probably depends on where the other moves fall out. If we had already signed a closer and an upper tier bench bat and we NEEDED to dump Bellinger to get back under the cap, sure, I'd be worried. Absolute worst case, we go into next year with a moderately inefficient allocation of talent. It's probably going to be fine.