Haven't people watched Diggs play? He is terrible.
Diggs was chosen as an Allpro in his first few seasons only because he got a lot of interceptions.
He got the picks because teams picked on him relentlessly, threw at his man all the time and he has been torched deep over and over again.
Diggs is a complete liability in coverage, and the Cowboys are just cutting their losses by releasing him and are willing to take the dead money hit to get out from under his big contract.
The same goes for Daron Bland, another Cowboys cornerback. Bland got a lot of buzz by setting the record for pick sixes in a season, but he too is poor in coverage.
By the way, Emmanuel Forbes is amongst the league leaders in PBU primarily because every opponent targets him in their game plan, as they have also gone after Darius Williams.
Observers make the mistake of equating big interception and pass breakup numbers with quality secondary play. The fact is that teams tend to avoid quality DB's - many of whom are not targeted as frequently and may have low interception numbers.
Ideally DB's can both cover and have good ball skills.
Diggs can catch the ball, but is lousy in coverage.