This is how you move on from a HOF QB, and a team with a great recent history of winning. You move on completely. It isn't like they have much talent that they are making expendable by transitioning as the only player that is at risk is Freeney, whom I believe is in his 30's. I don't see them resigning Mathis, and their next best players are corners.
Blowing it up keeps fans in a realistic frame of mind. This is a bad team whose talent is almost all over 30. In order to keep pressure off Luck, the Colts have set up a plan that should give him 3 years before fans start expecting the playoffs again.