Keith Law called it "the most expensive thank you in baseball history." Which is fair, if exactly as nuanced as you'd expect in a tweet.

I think his bounceback potential is somewhere far south of what he's been but way north of what we've seen lately. Strikeouts are awesome.

Finally, this article says the Giants "almost certainly" would have made Lincecum a qualifying offer. This is a dumb observation.

http://www.mlbtraderumors.com/2013/10/giants-lincecum-agree-to-two-year-deal.html

Giants, Lincecum Agree To Two-Year Deal
By Steve Adams
The Giants have announced a two-year contract with right-hander Tim Lincecum, which will keep the two-time NL Cy Young Award winner from reaching free agency. The deal is believed to be worth $35MM and Lincecum will recieve full no-trade protection, according to Jon Heyman of CBSSports.com (Twitter links). The deal will be finalized once Lincecum passes a physical.

The Giants took care of their top offseason priority earlier this month when they agreed to a five-year, $90MM extension with outfielder Hunter Pence and priority No. 2 is now crossed off of the list as well. San Francisco allegedly offered The Freak a two-year pact earlier this month and he turned it down, but it was presumably so that he could secure more money, not a longer deal. If the Giants didn't get a deal done with Lincecum during the exclusive window, they almost certainly would have extended him a one-year, $14MM qualifying offer to guarantee either a return to SF or draft pick compensation.

While Lincecum hasn't regained his Cy Young form, he has bounced back nicely in 2013 after a rough 2012 campaign. The 29-year-old posted a 4.37 ERA with 8.8 K/9 and 3.5 BB/9 in 2013, a marked improvement over his 5.18 ERA with 9.2 K/9 and 4.4 BB/9 in 2012. The advanced metrics are promising too - his FIP (3.73), xFIP (3.56), and SIERA (3.75) are all better than his 2013 ERA as well as his 2012 marks.