I really don't see Cleary signing elsewhere. How do you explain to your brand new team mates and coaches and media circus that it's ok that your knees are shot and you fall down every shift, because you're a respected leader? Unless we're talking about, like, Florida.
Beyond the physical limitations, it's not like Cleary is incapable of providing value to a team at this stage. The Red Wings don't lack for quality leaders and Cleary was widely respected by his teammates here, so that impact could easily translate to another organization.
I'm not really even advocating for the Red Wings to keep Cleary. I just think the LGW consensus (not you, specifically) has turned Cleary into a villain when he still provides qualities that are necessary to win hockey games.