I follow NFL much less than before, so don’t even know what Bell wanted from the Steelers.
Being “franchise” tagged at least guaranteed him the salary of the average of top 5 RB’s in the league, or 120% of his previous year salary, whichever his greater. Not a bad return for not having a contract for 1 year.
Now he has nothing. The NFL is not a running back league either, so the Steelers will probably just cut him later, to make sure he doesn’t play for another team this year.
He gambled big and lost big. I wonder whose advice he was listening to?
Having said that, I would also add that I would treat NFL players a bit differently. It's the only major sports league that doesn't guarantee its player contracts. So from the player's perspective, a multi-year contract isn't really worth the paper it's printed on. Everything is just a one-year deal, which explains why all these star players now insist on getting huge signing bonuses as part of their deals.
“so the Steelers will probably just cut him later, to make sure he doesnt play for another team this year.”
They won’t cut him, they’ll get a 3rd round comp pick when he departs in free agency. If they cut him they’ll lose the pick.