I think Reed is a shell of his former self. He's suffered through a lot of injuries, including the neck thing, throughout his career. Seeing him in a couple games this year while watching, he's also getting beat on a more consistent basis and doesn't appear to be a three-down player moving forward.
Judging from comments he's made throughout the years, Reed's also not concerned with how to keep himself busy with life after football, and he's not going to stick around just to stick around and have one more season. I actually think that he could retire after this season if he and the Ravens don't agree on a reduced role and salary.