I think so.
This deal is less crazy to me than the Pence one. It's only two years, you'll get what you pay for. With Hunter he'll be getting upwards of $20 million five years from now. Sure, he hasn't had an injury plagued career to this point, but neither did El Caballo prior to 2008. Which of course isn't nearly as crazy as the Buster Posey 9 yr/$167m deal which will be paying the catcher over $20 million when he's 35 after having played over a decade at the most physically demanding position.
I guess they're just staying ahead of the market, but at least with Lincecum the duration of the obligation, which presents the biggest risk with any player but especially a pitcher, is minimized.