I don't think Wallace is worth a Fitzgerald contract either, but I don't begrudge the guy if he used that as a "shoot for the stars" opening to the negotiation process (and none of us even know if that was the case...Wallace's only actual comment when asked about Fitzesque demands was "don't believe everything you hear").
If you recall, Ray Rice stated early in his negotiations that he would like an Adrian Peterson sized contract (wouldn't we all?). $100 million contracts for RB's like Peterson and WR's like Fitzgerald (regardless of how good those players are) are ridiculous in a salary cap environment (at this time, $100 million contracts are only worth giving to QB's who are capable of leading teams to Super Bowls). Rice ultimately received essentially half the contract that Peterson got (after all, the Ravens have a smart front office that fields a perennial contender, unlike the Vikings and Cardinals). I expect Wallace to end up something very similar to Rice (after all, the Steelers also have a smart front office that fields a perennial contender, unlike the Vikings and Cardinals).