to clarify i think that he made the decision shows that West himself agrees that this is the best decision for him. But if it went the other way around and he chased the money I'm sure there would be some who would say it is the wrong decision for him. That is a stupid thing to say as we don't know what will make him happy in the long run, only he does.
As for me I would take the money every time. There is no guarantee that the pay cut will earn him a ring. Considering he can play on any number of teams who are likely to make the playoffs and have a shot at the ring I would take the money. But as for West I won't say if this was the right or wrong decision, only he can make that for himself