Yeah, I can see it from that POV, his position is not worth the wage. I just think top scorer from last season, was doing fine until allardyce turned up, has winning experience we can't really attract, is such a big name that he could help us attract better signings, and could teach all our youngsters a lot - these advantages outweigh what we'll gain.
I think he'd be fine playing a bit part role next season, but he'd then be out of contract (not that that matters if we're not getting a fee anyway), but yeah, do we need to be paying that much wages for a squad rotation option? Not really, that should be what we pay our best player.