Here's how I figure it.
Key 2027 Free Agents
Puka Nacua
Kevin Dotson
Steve Avlia
Byron Young
Walter McClendon Jr
Kobie Turner
Davante Adams
Matthew Stafford
Sure the salary cap is going up, but chances are they are not re-signing all these guys.
If capable, Freeling could be a backup swing OT in 2026 (which is nothing to poo poo about with an immobile Stafford at QB), but should be starting in 2027. And on a rookie deal at about 1/3 or 1/4th of what McClendon or Jackson (entering the final year of his deal) would be making or will command. That would help tremendously in retaining one or more of the previously listed names.
If McClendon plays well and leaves via free agency they could possibly get a decent comp pick. If they re-sign McClendon (which shouldn't happen before the draft) then you have an asset in Jackson that can be dealt for a 2027 draft selection they are probably going to need to move up for a QB.
BTW, regarding the backup swing OTs that can be had for mid round picks. This isn't a deep OT draft class and as always most of the highly considered ones will go early. Next, unless they stike gold like they did with Jackson (though he was undrafted), chances are probably even less that a rookie mid round OT will be ready to contribute (see McClendon). Finally, to date, the only mid round pick the Rams have is at the bottom of round three. After that they don't select again until near the bottom of round six.
It's a risk either way because the kid would be just a rookie himself, but if the Rams scouting department likes Freeling then I can't help but to trust them and hope he pans out. I just wouldn't scoff at the Rams using that selection for a player playing a premium position which would be ideal. And especially in this draft class.
Or maybe they can bring Joe Noteboom back. From what I understand he wasn't very good in Baltimore last year, but maybe he misses LA. I think he's still a free agent. Who knows?