Reyes was not worth his contract (great trade by marlins to dump him, Buerhle, Buck, etc) - Wright's contract OTOH is not such a substantial overpay, especially when you consider his value to the mets exceeds what he brings from a performance standpoint (there is a huge legion of loyal David Wright/Met fans, who come to games because of him, buy his gear, etc. Mostly kids).
Performance wise they should get at least 3-5 very good years out of him as he is only 29 (30 in a few weeks) and plays a corner IF position. This means they can have a target contention year of 2-3 years and this move still makes sense. Objectively, he can easily be part of the solution and not the problem, even though many bitter fans probably associate him with all the negativity of the past couple of years. I think this was a good signing.
Disclaimer: Not a Mets fan.