I'm back and forth on the Aiyuk thing. If you don't do it, you are almost certainly punting on this season. That receiving corps without him isn't even good enough to be considered laughable.
A 2nd and 3rd rounder seems like a lot, but realistically - a guaranteed hit at a position of such importance is arguably more valuable than two lottery tickets in those rounds.
The salary... eh. Watt may or may not come off the books soon. On the other hand, you're going to have to acquire a QB somehow. All in all, it will be interesting to see what happens. I'm guessing he'll just stay in San Fran, though.