Meh signing (provided it's true and it's a guaranteed contract).
Spurs needed a vet shooting wing, Fredette is that but he is really short and not that good. I guess Spurs couldn't get better offering a min contract and without guaranteeing some playing time.
And for people saying he is a 15th player, it's more complicate than that. Anderson and Simmons have shown nothing at a level above D-League and summer league. Both might not turn into NBA caliber players. In that case, Fredette will be the 10th player on Spurs roster chart.