The problem with this is most GMs know we're going to move on from him.
Yeah, he's shown good stuff as the no 3, but he'd likely be someone else's no.3 as well. Most GMs would likely call your bluff, put in a waver claim, and not cry about it if they miss out.
If he clears wavers, we could still lose him to someone offering him a PS spot with an increased salary.
It kind of depends. I wouldn't be too sure that other teams out there like the Detroit Lions wouldn't be desperate enough to get a backup at #2 (for the record I just saw they had Boyle on their roster backing up Goff which says a lot), and if they had an extra LB or P who they would have kept but just didn't have enough room for, it could be a piece we could use on our 53.
To be clear, as tynimiller has said, I don't want to go this route. I think we should go 3 QBs and figure out where to prioritize or shorten at other positions of depth. But if for whatever reason our HC and GM think we gotta roll with only two QBs, might as well fish him out there and see if you can get at least a nickel for him before you take your chances on trying to keep him on the practice squad.
Now, if we do go with 3 QBs, we'll have to figure out what the future will be for some players like Funchess and Sternberger.
Here's how it might go ...
3 QB - Rodgers, Love, Benkert
3 RB - Jones, Dillon, Hill
6/7 WR - Adams, Cobb, MVS, Lazard, Rodgers, Taylor, *Funchess
3/4 TE - Tonyan, Lewis, Deguara, *Sternberger
9/10 OL - Myers, Jenkins, Turner, Newman, Patrick, Kelly, Braden, *Bakh (pending his return), Nijman, Runyan
5/6 DL - Clark, Lowry, Slaton, Keke, Lancaster, *Heflin
3/4 OLB - Z Smith, P Smith, Gary, *Garvin
4 ILB - Burks, Barnes, Summers, Campbell
6 CB - King, Alexander, Stokes, Sullivan, SJC, Ento
4/5 S - Amos, Savage, Scott, Gaines, *Black
LS - Bradley
K - Crosby
P - whoever
Possibility of Bakh returning late season complicates things a little, but there are options.
Where things are really interesting right now is how Malik Taylor has come on making a strong case to be pushing for the 53, possibly even challenging one of our number 3 or 4 guys. At the same time Funchess did well in his preseason action. My gut says trade him because he's already crowded out with Cobb back to go with MVS and Laz, he would be more expensive to sign again next season, and Taylor's almost as big and probably faster than him.
Then to the TEs, I think we could easily get by with just 3, but over the last few years the GM seems to insist on 4 as ridiculous as it is. Now, personally I have nothing against Sternberger and think he may be the most athletic TE here, but if he's on the bubble anyway and the coaches aren't high on him, then trade him because you definitely know he's going to net something good. Do that and then sign Kafusi to the PR and protect him in case one of our starting TEs goes down.
From there... guess it's just a matter of should you have 5 or 6 defensive linemen? 3 or 4 pass rush LBs? And 4 or 5 safeties?