Worth is relative club to club.Yes. For us it is. He's not in our back 7. No one who's in our back 7 ahead of him is on 500k+ (except maybe luke ryan). So 500k for 4 years for us is way overs for a guy who isn't in our best 22.
His value, based on his ability/potential/ position he plays should be around 400-450 for most clubs. North offered him crazy money, we upped our offer to try and compete with that, it still wasn't enough. Doesn't mean he's worth anymore than 450k.
For North, who are in desperate need for a key defender to pair with McKay for the next 8 years, he's worth more then Freo where he's not a defender in your best 22.