To me this is an overpayment for Ryan.
He should have only gotten a NRI. Probably past history with GM does play a big part. The Reds definitely are gearing up to go for division title this year.
But his power should play a lot better in Great American than it did in Petco or PNC. As a player like Ludwick ages he retains more value for teams in smaller parks than for teams in larger parks. It reminds me of Bay being a great fit for Fenway as his power declined but a poor fit for Citi Field--unfortunately he and/or his agent didn't appreciate this.