Sure it's relevant. At times he has played extremely well, even with a knuckleheaded coaching staff that was extremely weak around game planning and in-game adjustments. He'll now be playing for a HC and staff that has track record for getting the most out of QB's and the HC is on record saying he thinks Prescott can play at an extremely high level.
I don't like the idea of him being the top-paid guy at his position, unfortunately all of sports free agency works pretty much the same. Guys who shouldnt get market setting contracts do, but it's only temporary until the next guy/guys reset the market.
They clearly don't have any other legit alternatives (most teams don't, there's been a shortage of good QB's for a long time), they could potentially draft a guy early but there's no guarantee that guy will play well or pan out at all, and it's very likely the team would take a significant step backward the first year or so, perhaps longer. For the most part the roster is set up to win now, so rebuilding the QB spot completely would probably not be prudent.