As he should be. Waddle is currently WR2 while Ramsey will end up with a gold jacket. Also, Ramsey is the 2nd highest paid CB in the league, Waddle is currently 7th WR in APY (about to be 9th when Chase and Higgins sign).
I think Ramsey is slightly overpaid, I don't think Grier needed to redo that deal. Waddle is currently overpaid BUT his big cap hits don't come till Tyreek is gone and I'm still hopeful that when that day comes Waddle will step up like he has when Tyreek has been out.
Waddle had a really poor year last year, easily his worst as a pro. That will also cloud people's judgement.