He was coming off of his 2n 30+ point season in a row with a career high of 17 goals, he was worth the risk given that, but since then, he's not going to get 4m. Up until that point if you looked at his career numbers, the Ducks thought they were getting what they had in Rakell, with Hagelin, but that wasn't the case. Hags is hugely inconsistent with his production but with Malkin he fits incredibly well and maybe he goes after his pay day, which I mean, good luck to him.
But he's also BFF's with Horny and loves being on the Pens, the team also has a ton of trust in him and his game and there's a reason he wasn't just dumped with a sweetener to get cap space back earlier on in the season, he was still doing the right things defensively. I would keep him at 3m/yr for 3yrs (Sheary's contract). I think he'd stay and I think we could fit him under the cap with that too, he's not an issue until the summer of 2019.