Suffers from the same problem all QB metrics do: isolating the effect of QB play. Stats like adjusted yards per attempt are great at measuring the effectiveness of a team's passing attack, which is whole lot more than QB performance.
I don't see how the idea of a replacement level QB solves the issue at all. You're simply measuring the Green Bay (or whoever) passing attack versus the average passing attack of a team with an injured QB, not Aaron Rodgers. Aaron Rodgers is a great QB, not doubt, but his coach and GM are pretty good, too. Didn't Flynn set some club records a few years ago?
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