I assume you mean Lane Taylor. He might beat out the rookie for the job this year. He might sit on the bench. I think it is clear the Packers would like to see the 2nd. round pick win the job and, as a second rounder, they should expect it. Whatever progression was anticipated when he signed his current contract, it didn't happen. He's somewhere between serviceable and adequate and you have to wonder how much worse he'd look if he was playing next to lesser players than Bakhtiari and Linsley.
As for Taylor'smoney, there is a legacy contract involved with signing bonus hangover. Assuming Taylor has earned or will earn his workout bonus, the question becomes is he worth keeping as a backup given the cap savings is $1.725 mil if cut or traded. That savings is not much compensation for dropping a backup OG with starter experience.
Legacy contracts and fresh #12 picks are apples and oranges.
You might as well have cited Tramon Williams, a dime CB, King insurance, backup safety in a pinch, and psudo-coach. Under the best case scenario he'd only see dime snaps. His cap number is $6.375 mil, starting safety money, but that's not the relevant number either. His cap savings if cut is $3.65 mil assuming again the workout bonus is or will be earned. Is he worth that? Given the circumstances it is hard to argue he isn't.