Charlotte is making some interesting moves, although the Hayward move is "interesting".
Think they are banking on Melo being a transcendent player... good luck to them, as pro leagues go Aus NBL ranks somewhere below multiple Euro leagues and the CBA. But he ended strong there and he has the upside to be an NBA star.
PS, I think the Hayward issue is players association contract. The reason why he is paid so high was he was an allstar, and now he is an allstar veteran. You get paid out the ass for just being a league veteran (not to say being a journeyman veteran isn't a major role in the NBA, Fisher, Horry, Iguadala, D Green).
But 120m for a going on 30 Mr Glass seems frightening.
Granted, unless Melo winds up being an mvp level player and triggers the Rose rule, in Charlottes ideal timeline, they won't have to open the pocketbook for 4+ years anyway.