Some people will never understand this.
As I said, the closers IMO have evolved. Today, the closer job is a specialty, they are no longer commodities (take this as: just few relievers can take this spot; not anybody). Since the league has turned more competitive year after year, this kind of spots mark differences in a W or a L and mostly in close games. Papelbon is arguably the best projected closer in the league and the best who was available. He is 30. He has proved that he can execute in your environment. He is not fragile, in fact, I don't remember him being a distinguishable DL resident like Jenks, D-K, etc. 4/50 is too much for the best (arguably) in the position? because relievers are prone to injuries (even he has been healthy through 6 years)? because he is asking Mo's money; I would, wouldn't you? (-17% by year, actually), because is a long term contract for a reliever? again, 4 years is too much for a young, ace and healthy closer? for a speciality?, Really?