As a Denver fan I too think its too much, considering his injuries. However, it is assumed that the Nugz are placing incentives in the contract sorta like Camby's deal. Where pretty much he's getting 8mil a year guaranteed.
Nene averaged 11 and 6 his first year in 28 minutes, 12 and 7 in 32 minutes his 2nd year both pretty much full years. Pretty solid numbers
If he can get 15-17 and 8-9 in the 35 or so minutes he should be getting this season to go along with his aggressive D. Then he's worth the money.
And its not like Nene is some shy kid like Iggy that you've got to motivate to produce, he wants to be a star, has compared himself to Malone, wants the ball dumped down to him in the paint, and is aggressive when he gets it.
The only thing people in Denver truly worry about is if he can stay healthy. I feel he can definately up his points and rebounding with the minutes though. When he started in 04/05 he averaged like 17 and 8 and the Nugz won most of those games. He's not a total project.