Here is the first sign of Cubs walking back expectations at shortstop through their friends in the media. On reports that Correa will sign for around $250 million, Jesse Rogers says "
hes getting $250M. And the Cubs arent spending $250M.
https://www.bleachernation.com/cubs/2022/11/23/if-this-is-really-all-it-takes-to-sign-carlos-correa-the-cubs-must-get-it-done/
To BN's credit, they didn't carry water here. They're actually critical of the idea that the Cubs wouldn't sign Correa on such a reasonable contract.
I'm not sure where you get the idea that the Cubs are "walking back expectations". The Cubs are not mentioned as a source at any point, and he merely says that some people in baseball do not think that they will go for a contract that large. I have never heard Hoyer or any other Cubs source give any indicatio of how much or how little they are willing to spend. They Have indicated that they don't want a contract over 6 years or so, and seem to have stuck to that.
BN is hardly made up of reporters. They seem to use reporters as their source, rather than develop their own, at least when it comes to the major league team.