It would rejuvenate fans (and the national media) by showing that the Rockies are going for it
Just take a look at social media if you want to see how the average Rockies fan feels after the last two seasons. They are not happy. They are dejected with the Rockies, ownership, and the front office due to their miscomings in recent years. They also believe that the Rockies are being passive and stand-offish in regards to the team. The Rockies had Arenado and Story in their prime, a good starting rotation and (back in 2017 and to a lesser extent 2018) a decent bullpen and what has the team done? They won one playoff game. That’s it.
As a result, fans are saying “If you don’t care about the team winning, why should I care?” If you don’t believe social media, look at the Rockies TV ratings in 2019 or 2020 or their radio ratings. They have gone down a lot in each of the last two seasons.
Signing Bauer would show fans that the Rockies are going for it and want to make the team better. The national media would pay attention to the Rockies as well as, particularly in the last two years, the Rockies get little to no coverage, partially, because they have been a bad team.