Rice is a has been. Looked like shit in preseason no doubt. If the Ravens thought there was any tread left on the tire they would have done something along the lines of having a press conference today or tomorrow where they would announce they've mutually decided to give Rice additional time off to get his life in order. Then he would have been reinstated sometime in mid season as a "new man."
But it looks like he's done, so they cut him. They too are phonies.