Could Jordan Love actually be good? Why didn't the Packers give Love the 5th year option?

If you would have asked me last September if there was any chance Jordan Love would work out to be an actually good QB, I would have said there was no chance in the world. But after what has happened in the last 8 months, I believe there's a lot more evidence that says otherwise. And why did the Packers sign Jordan Love to this unique 1 year extension?