Financially, the Reds feel bound to give Arroyo(3rd spot) and Chapman(5th spot) chances to get a return on the investment. The Reds have also invested more into Homer than Leake right now. Wins mean little in overall pitcher evaluation. In that regard, Cueto is overpaid.
It would also put 2 guys in AAA in case Bailey doesn't improve, Chapman or Arroyo can't cut it as a starter.