What needs to happen? Nobody forced the Browns to do what they did. They are screwed because of bad decisions they made.
Some of it could be luck - that happens with investments made for the best of reasons sometimes. But over time, the success or failure of an NFL front office depends on its decision-making and some of the things that should be feeding that, like risk assessment and management, due diligence, market research, and contract-term negotiation. In the Browns-Watson case, I see a failure to assess and manage the risks of giving up a lot of draft capital for a player, plus giving him a fully guaranteed five-year (plus void years to reduce the cap hit for the signing bonus each season) $230M contract. I see failure to do due diligence on the guy in whom they wanted to make that investment. I see failure to understand the market for Watson at the time, leading to a market-warping contract from which the league as a whole retreated quite a bit, despite the salary cap continuing to skyrocket. The next-highest fully guaranteed-at-signing value for a contract in NFL history, after Watson's in first place at $230M, is Joe Burrow's from a year later at $146.51M, over 36% lower than Watson's fully guaranteed amount. Kyler Murray's contract from 2022 has a slightly higher total nominal value than Watson's ($230.5M), but with over 55% less fully guaranteed money. Getting back to the Browns' failures in the Watson case, I see total failure to negotiate contract terms that could have protected the team. There is also further failure to manage risks in dedicating that much of the cap, fully guaranteed, to a single player, and major planning failure in terms of building and maintaining a strong-enough roster around him, especially after having given up major draft capital to get him.
So the Browns are pretty screwed for a few years, but they have nobody to blame but themselves
The answer is that
nothing needs to happen "with these absurd QB contracts," precisely because of the things
@Torc mentions in the larger quote up at the top of this comment. The team that failed in a whole bunch of ways in obtaining and extending Watson is suffering for it and will continue to do so. Why should anything more need to be done?