He is eligible for the franchise rate or w/e it's called. Ayton is worth what he is getting paid now. Dude one of the most efficient players ever, he was at 69%TS or something insane. Yes those were dunks and layups but you got guys who just do the same thing as well and don't reach that high. If KD is getting paid 60M then Ayton is worth around 30M. As another poster said if that's an overpay, that's not a huge overpay.
He already did Tilman bought Rox at a premium cuz they just took GSW to 7 games in the ECF and had Harden in his prime. 2 yrs later the team is in shambles and Harden wanted out. The pandemic also almost crippled him into selling the team just after he bought it. Good thing Tilman was smart enough to hire the right person to be the GM instead of Morey's appointed successor.
The Blazers this year are the perfect environment for Ayton. He's overpaid, the team has no expectations and he is under no pressure to perform. Playoffs? That's the last thing he wants.