It really isn't even close. Smith is not playing on a mid round rookie contract. Smith has already made enough money to the point that he could retire, never work another day in his life, and still have money left over to pay for his children's college education. We don't know him, but Smith's MO at this stage in his career looks to be team achievement - i.e. playoffs & Super Bowl - and personal redemption. Smith took the road less traveled in staying in SF to prove a point that given a proper chance he can lead the Niners to victory, despite what some fans & a couple shitty head coaches thought.
Alex having a chip on his shoulder & having made all the money he ever needs, leads me to believe money is not his number one prerogative heading into negotiations. I offer that if Alex isn't too worried about the money, and the difference will be used to go after an FA or resign an important player, he'd probably take a hometown discount.
Who said anything about him having a chip on his shoulder. The implication is that he will take less than market value because he was overpaid in the past. It's a ridiculous implication.