Teams have gotten smarter about free agents.
Cobb is nothing special, a minor upgrade over their young pitchers, who might be their #5 in 2019 and out of the rotation in 2020.
He average 2.5-2.9 WAR in his three seasons before his TJ injury, but only had 72 starts in those three seasons.
Actually pitched more last year, 29 starts, 179 innings, posting a 2.4 WAR season, but his K rate was down.
Figure a mediocre pitcher who lacks stamina is unlikely to be effective past 32 years old - 2020.
He's really not much different than Eickhoff, 91.5 MPH two seamer, relies on his curve as his out pitch. Splitter has been meh.
If the Phillies gave Eichkoff a 4 year extension at $57M, who would be excited?
Probably worth a 3 year, $45-50M deal (assume 2.5, 2.5, 1 WAR).