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Alex Cora Gets $4 Million

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How crazy has the free agent market gotten? Crazy enough that an intelligent team is giving a two-year, $4 million deal to a utility infielder in his 30s who hit .238/.312/.298 last year and didn't do much better the year before that.

Regardless of the market conditions, why are smart teams like the Red Sox and Cardinals giving multimillion-dollar deals to the Alex Coras and Scott Spiezios of the world? I truly don't understand this - players like Cora and Spiezio are easily replacable with Class AAA players.