Na, not a desperate move, remember, they tried to trade for him, and almost pulled it off, last season for the big push.
Sure, it has escalators in it to rise to $20 million, but he if reaches them, you could say this offense is unstoppable.
Yes, he is 30, but the contract is workable and short. I would be against it if it were longer than 2 or 3 years, but it isn't.
Resign Hill if possible, hope the kid comes back healthy from that knee, maybe draft a quick back.