Interesting read. I don't think many would like to see Dozier extended through age 33, at least, not for guaranteed money. An extension through his arb years with team option(s) for the FA year could be team-friendly, if he ages well. Arb raises are going to happen, unless he falls off a cliff in his age 28-29 seasons, and of course free agency after that will be a bigger raise yet if he stays healthy/productive.
The price of an extension at this point would be, I believe, quite cheap. On the other hand, his arb raises aren't likely to skyrocket into the 12-15m range, probably, so the savings might not be significant, depending on what payroll contraints the team faces in 2-3 years. There are reasons to consider both approaches, and projected decline through age 31 or so should definitely factor.