I agree that Jordy is probably the easier guy to renegotiate and keep until the end of his career. I also think out of the 2, he is probably not only more important to AR and the Packer offense, but probably less easy to replace due to his chemistry with #12. Cobb is only 27 years old and should be around for at least one more 4-5 year contract. I am guessing his hope is to stick this next season out (on his current contract) have an impressive 2018 and use that to sign a big contract elsewhere.
As far as having faith in Clark or Dupre.....Davis or Janis......none. While I think both Clark and Dupre may have some potential, I highly doubt we see it in 2018 and no way would I want to rely on it. The lack of quality depth at WR has put the Packers in a tough spot with Jordy and Cobb. Yes, they are probably being overpaid, but as I keep asking, who do you replace them with? Same issue with Matthews.
If I am BG.....I look to keep Jordy, Cobb and Matthews on restructured deals. If they won't budge, I don't cut them, but I go into Free agency looking for cheaper options. After that, hit the draft knowing what you need. If all those options fail, you break camp with whoever you have and if you find a replacement for any of the high priced guys, cut em' loose.