I'm going to disagree with this take.
Let me explain...
When Jones signed, the contract made him the highest paid CB, but now... he is already down to 5th highest. And as time passes, and more contracts are signed, he'll fall farther and farther down this list. This is pretty much how it works when you sign a premium free agent. You overpay early and then the ascending salary cap wipes out that value.
His cap number is stable over the next three years and if his play continues to be solid... he may be here all three years. Oh, he'll never generate turnovers, but he is a sticky cover corner who you can put in single coverage (where he'll win most of the time).
Jalen Ramsey's cap numbers 2022 (23M), 2023 (25M), 2024 (27M).
Byron Jones 16M, 16M, 16M
We can easily afford this and unless one of the young guys outplays him, there's no reason to release him.