Between the camp fines and surrendering game checks he is going to lose more than the gain of a new contract (anywhere) and also lowers his franchise tag price for even more of a deficit.
It seems he choose poorly from this outside observer.
the franchise tag is irrelevant because the chiefs are not going to franchise him. if they inexplicably do that, it would be great for Chris as he would make like $33M guaranteed next year (idk what the actual number is but this would be good for him and not the chiefs) and then be in position to sign a huge contract with another team
he clearly weighed losing half a season of game checks vs getting the guaranteed number he is looking for (and will get next spring from another team) and decided to send it.
the chiefs are playing it right by standing firm. they just should have read the room better and traded him in march/april. too late now.