At what point is Lamar biting off his nose to spite his face? The league is not going to go all in on fully guaranteed deals, regardless of what any of us may believe QB's values to be.
Is their some anti Lamar bias league wide? I think there certainly could be. After all, I'm sure some of the personnel people, scouts and front office staff that passed on him in the 2018 draft are still in place and if they didn't like him then, they probably still don't like him now.
It's not biting it off if it works. Maybe Burrow or Herbert get full guarantee and the thing shifts. If they don't, then Lamar would have to go have an MVP type year to have any shot, but merely a really good season likely leads to him getting more than he's being offered now.
It's a huge risk to wait. But if things work out, waiting is always the way to maximize earnings. Maximized earnings may still be below what he wanted, but it could easily be more than he's currently being offered.
I'd have signed in September if I were him, but I'm not.