Can a player even be considered overpaid when they are on their retirement death bed, have zero trade value, are on a one year deal, is taking up 5% of the currently available cap space, and is being paid using someone else's money?
Overpaid would imply that it carries a negative value in some capacity. His salary doesn't affect literally any single hockey-related item under the sun. It does likely take $700,000 out of the pockets of Chris Ilitch, but I'm not super concerned about the finances of a family that owns two sports franchises estimated to be worth north of $2,000,000,000 and a pizza franchise with estimated annual revenue of nearly $4,000,000,000, amongst other financial ventures. I feel the need to type out those numbers just for anyone who needs help understanding how insignificant the overpayment is.
If we are getting nitpicky over such an insignificant player/contract just comes across as being either jealous, or as a gatekeeper for someone else's money. Both of which are some of the more detestable traits that I can think of.