CP3 is obv still a great player. The problem is it's a Max 4-year deal and the contract is back-loaded.. He will be 34 this season and has already had a lot of injury problems these past 3 years. His recurring hamstring injury in Game 6 of the WCF last year is literally why the Rockets weren't the 2018 champions.
You want to be the team paying him $42M at age 36 and $45M at 37? Have at it. Most teams won't.