Remember when Aldridge walked away from the team without compensation right in the middle of his prime? Kinda shitty, wasn't it? This deal prevents that from happening with CJ. Very good news.
If Simons comes along like we hope, it opens up the opportunity to trade either CJ or Simons for a more complementary star forward down the road.
Portland has been really good in recent years at sniffing out and developing undervalued guards--Simons, Trent, Connaughton, Crabbe, Hood, Curry, Frazier, Dame, CJ. If there's one disadvantage that arises with Dame/CJ/Simons turning into the three-headed monster I'm expecting, it's that it kind of minimizes this other skill the team seems to have. There just aren't the minutes to develop and showcase other guards.
We sure as fuck don't have a strong track record finding the same talent among 3s and 4s, so we might as well trade for them.
But for now, yeah, I'm really glad CJ is happy to extend with the team at a reasonable market price. In the era of "player empowerment," it's great that the team has more control of what happens to its second best player.