That is NOT $27 worth of production no matter how you guys try to spin it.
Here's the thing. A statement like "that is NOT $27 million worth of production" is empty unless you tell us what $27 million of production SHOULD look like.
And as I said above, you CAN NOT use players like Harden, Westbrook, etc. as benchmarks. In an unconstrained environment they would get far more than the max.
This also happens to be about the worst time in NBA history to make a blanket, unfounded assessment about what any player is "worth." The cap has exploded. Rules on max contracts have changed.
As a consequence, at no point in NBA history have salaries been (a) more "out of whack" across players when you compare players signed recently vs. in the past, when the cap numbers were lower, and (b) harder to benchmark against any notion of "fair value." Things have changed so fast that there's simply no useful historical data.
There's a simpler question, however: if we didn't offer Horford that contract, would other teams have given him the same deal?
Because if the answer is "yes" (and it is), then we paid what he was worth. We didn't overpay. It's called a market test. End of story.