It's not a bad take. Glennon, on most other teams, is QB2. I don't subscribe to the groupthink that the season would automatically be toast, although the chances of being competitive would be slim. Glennon is better than Stanton and Gabbert, and even with those guys starting, we were still competitive last season. Plus, with two years of control, you can choose to keep him or release him the following season, depending on if there's a better option out there or not.
If someone were to offer a 5th rounder or better, then you have to consider it. A pick that would most likely be a player cut simply isn't worth it.
Besides, does anyone really think that Glennon is going to be cut this weekend, creating $4 mil in dead money?