I doubt it is given very much serious consideration at all. But IF you can string together a "bridge" year - where you keep Love as the hit is just too great AND convince Willis to re-sign as well - there is a theoretical "out" in Love's contract in 2027 with "only" 51m of dead cap (depending on when it's processed and how it's split)
Of course practically speaking there are some issues here. Probably the only way you can convince Willis to re-sign (in addition to the money) is if you're going to promise him a bigger role in 2026 and a clear pathway to a starting role in 2027. Otherwise there will be plenty of other teams who can likely offer him the same (or better) money and a starting spot in 2026. Maybe he is happy in GB but I doubt he would turn down a 2026 starting role and starter's pay in order to stay in GB unless you make it pretty clear to him that he will have a great shot at being the starter in 2027.
And on the other hand you have Love, and between him and his representatives they are undoubtedly going to be aware of this situation as well. They know his contract and they know we aren't going to keep two QBs long-term. In that situation you basically have a 200m+ lame-duck QB contract for the year until Willis can step in and start and you move on from Love. And I don't see Love's camp having any interest in entertaining that scenario or doing anything to assist in that "transition". They would never accept that kind of arrangement (and why would they?) and it would almost certainly create more drama than it's worth. And as they say, if you have two QBs, you have none....
It won't happen but I think the only way it would be considered is if you moved this offseason and just ABSOLUTELY took your lumps for a year. I don't see Willis/Love agreeing to a scenario in which both coexist long-term (again Willis can start elsewhere, and as long as Love is here under contract he'll play) and I don't see either party agreeing to a delayed one year "transition plan" either. It's either Love and no Willis in 2026 and beyond or (infinitely less likely) Willis and no Love in 2026 and beyond.
That all said, with regards to Love...he was also quite literally 3rd in MVP odds like a month ago, and he had got as high as +220ish (current odds are Stafford at -225 and Maye at +180....followed by a huge gap till Allen at +10000) He had been better than +1000 from Thanksgiving until injury basically.
Moreover he has been top 5 in EPA, adjusted EPA, CPOE, PFF rating, passer rating, QBR, ANY/A, etc all season long. He doesn't have the same "volume-based" stats (i.e. total TD, passing yards etc) but per-play and by virtually every advanced analytic he's been a top 3-5 QB all season long.
Now to be fair by those same measures Willis has been as good or better this season. But Willis also has a grand total of 98 offensive snaps to Love's 894. And in this sense most analytics/stats utilities you may find don't even have Willis clearing the minimum bar for snaps/attempts to make any of the stat "leaderboards". If Pro Football Reference, RBSDM, PFF, etc are all saying "We don't have enough data to evaluate" then personally I don't really feel like I have any business making that sort of comparison at this point either....not only is the sample size still incredibly small, the recent matches are truthfully the best performances of Willis' career. And that is great for him and I'm happy for him. But I would not count on maintaining that level.... and I also don't think it makes a ton of sense or is a terribly honest case to single out the absolute best ~3-4 total games of Willis' career and compare them against the whole body of work for Love. It doesn't make much sense to consider Love's whole career but then wipe out half of Willis' because he had bad coaches then or whatnot (however true that may be, it's a soured comparison IMO). If nothing else perhaps we look at the absolute best 12-16 quarters of Love's career compared against Willis' to get a somewhat more fair comparison, no?