While what you're saying makes sense, you can't cripple a guy to try and pay him what he's "owed" based on what he's done.
You're agenda isn't geared towards Kobe, it's geared towards the Lakers. No matter what Kobe has done and brought to the Lakers, the Lakers will always be bigger than Kobe. He isn't bigger than the LAL, no matter what.
So with that, the agenda should be not to compensate Kobe, (no matter how great he's been for the organization) but to put the best product on the floor that represents the Laker franchise, and you can't do that paying a guy that much money, especially when he's injured at the moment. Period.
It's not that simple though, Kobe has been the Laker brand for the last 10 years, has generated 100's of million in revenue and is the reason they got a billion dollar TV and licensing deal. During that period people didn't pay those crazy prices to see the Lakers, they paid to see Kobe. Also until the Achillies, Kobe was playing up to that contract without a doubt.
Kobe's contract isn't the problem, the Lakers have made a ton more bad moves like putting all there eggs in the basket with Dwight and not trading him, not hiring Phil, giving up picks to sign Nash, letting Jim Buss run the team etc