I have the opposite opinion. Assuming we'll be able to pick up a free agent of equal talent later, we come out of the situation with a Colin Sylvia-level player + our compensation draft pick (instead of only Colin Sylvia).
We have a coloured view of free agency because we're on the bottom right now. As soon as we make it to anywhere near the top, we'll get back what we lost in terms of free agency players - plus we'll have a set of draft picks we never would have had otherwise.