That very well may all be true. In 2018 - the team does have a ton of options and that is leverage enough for me. Bell has no options - he plays for 14.5 million or he doesn't.
Moving forward - who knows? Not me.
As for Bell's personal feelings, I honestly believe that if the Steelers gave him $15 million per year for 5 years with about 45 guaranteed he would sign. Roughly the 3 year version of the Sammy Watkins contract. Is either Watkins or Bell worth those figures? Not likely.
However, barring injury, Bell is going to get that kind of cash somewhere next off-season.
http://www.spotrac.com/nfl/cap/2019/ take those #'s and divide them in half to account for the 20-30 guys each team needs to sign between now and then. Long story short, over half the league is projected to have $20 million or more in cap space next off-season. Surely those #'s will change, but if large amounts of cap room drove goofy contracts to second tier players this off-season -- what would it do with Bell on the open market? Low end QB money for sure.