The HRs aren't bad luck, they reflect zero margin for error. Players don't have to respect his FB.
He's throwing 88, touching 90. His changeup is 85, it has a lot of movement, but there's no velocity separation.
There are few pitchers who are successful #3 starters with that kind of stuff, as fun as Moyer was, he wasn't exactly a shutdown starter.
I'd take a healthy Eickhoff over this version of Grienke.
The Arrieta contract avoids risk past 3 years, when a lot of pitchers fall off the cliff (age 35) - given Arrieta has already had a velocity decline, he's certainly a good candidate to eventually nose dive.
There's a huge difference between 92 and 88 on a FB, much larger than the difference between 92 and 96.