I think Lamar is making the absolute right call, honestly, to maximize the amount of money he gets. If he plays his cards right, he could have $300M guaranteed at 28 years old.
As it stands now, Lamar will make roughly $125M, if I'm remembering correctly, on the fifth year option, and two tags. That's $125M guaranteed BEFORE he's even 28, which means that he's still in his athletic prime for a quarterback. There's also a chance that Burrow and Herbert sign mega deals, fully guaranteed or not, that push the average price of the tag even further, meaning Lamar only stands to gain money by waiting. He could theoretically cash in $130M off the fifth year and two tags and then come back to the negotiating table with a way higher cap in three years and get $150M+ guaranteed at signing.
If he gets hurt? He'll just point to Huntley and Dak Prescott. "Look how well we did with Tyler Huntley. Look at Dak getting paid after a nasty ankle injury." He'll just reopen negotiations and likely sign for what was offered before.
Unless he has a catastrophic, career altering injury, he's very unlikely to lose money and only stands to gain a large amount of money.
I'm all for him doing what he's doing. The Ravens are making A LOT of money off of Lamar and Lamar is putting his body on the line every single week. He's going out there and leveraging the fact that he's one of the NFL's most dangerous players into the most money he can and I'm all here for it with how much owners profit off of these guys.