This is basically how I feel about Jaire. Given his inability to stay on the field the last 2 years, I don't like his current contract. However, he is the best CB on the roster right now and the Packers don't have another CB that screams "high end starter" to me. Even if they use their 1st round pick in the draft on a CB, are you going to make him your starting CB on day 1? So if they are planning on purging JA, they are going to need to sign a high end CB in free agency. If that happens, then they have leverage on JA and can say "Redo your contract, to reflect your last 2 years or we have to part ways."
The good news for the Packers is that JA isn't due any sizable roster bonus when the new league year starts in March. That should allow the Packers to sit idle on him (unless a great trade offer arrives), shop the free agency market, go through the draft and THEN make their JA decision.
Unless I am missing something, Gute and the Packers would be absolutely nuts to cut JA before the draft. I would even say that you hang on to him, until final cutdowns and then make a decision, unless he agrees to a favorable restructure or a solid trade is made. Of course, if he suffers a major injury between now and Sept., then you cut bait.