I think symbolically, TStan had to extend CPJ. The football program is in the midst of a pivot in terms of direction (new shoe/apparel contract, recruiting and support investment, new DC, etc.). There are a LOT of moving parts going on at the moment for GT, and IMO, it's all moving closer to the direction most of us have been asking/wishing for. This is probably the most change that's occured at one time since CPJ was hired. You can't do that and have the appearance that the captain of the ship is facing the plank.
CPJ has taken us to 3 ACCCGs, 2 OBs, and won an ACC title. The last 2/3 seasons have not ended the way we wanted, but CPJ has proven he can right the ship, and he's proven he can win here. Some may not like it, but CPJ does deserve to right the ship, and now he's being armed much better than he has been in a while.
It will be interesting to see the details of the contract. It's possible that CPJ only gets a nominal raise, and GT structures a very friendly buyout. In which case it just becomes an extension for appearances and recruiting purposes. As others have already said, you handicap a coach in recruiting if his contract doesn't at least see out the class he's recruiting for.