I see Holt starting the season in AAA, despite Pedey being on the DL. Marrero, Brentz and Swihart are all out of options, and Leon is the back-up catcher.
It seems weird to pay a guy $2M to be in AAA and be 3rd or 4th, at best, on any positional depth chart.
IMO, h only becomes $2M valuable, if Pedey never returns AND one or two from Hernandez, Marrero, Lin, Brentz and Swihart bombs out or gets hurt (which is certainly possible). notin makes a great point, though, and we certainly could have found a cheaper player like Holt at any point in a season or off season.