Exactly.
Lots of folks are crapping on this move, but what choice did Jax have? Bortles salary was fully GTD next season with a $19M cap hit. An extension was the only way to reduce that hit. They weren't signing Cousins in FA with Bortles eating $19M on the cap.
Now, they can draft a backup in round 2 or 3, have him semi-compete with Bortles over the next 2 years, and go from there.