QB taken in a draft who started game 1 of their rookie season.
So they brought him on the cheap (you're not gonna find many QBs out there you could sign for less) who at least has the potential to challenge Stidham for the role of place holding starter as they attempt to bring Nix along slowly.
It's not a great situation for Zach, but it's not horrible, either. He's in a contract year and he has the opportunity to show off in a Sean Payton coached offense. If he takes that opportunity by the horns, he'll be able to show off and then sign a decent contract somewhere else, extending his career several more years. If he doesn't, then he's already on his way out of the league, anyway.