He can and will have it both ways kid
You're right, he can totally do both. I think he'll be a great commentator but it's not as easy for him because of the restrictions.
Here's what he can't do without approval, that other announcers can:
Prohibited from entering another team's facility
Prohibited from attending another team's practice
Prohibited from in-person or virtual broadcast production meetings with coaches or players
Prohibited from publicly criticizing officiating or other NFL teams
Must follow the NFL's gambling policy
Must follow the NFL's anti-tampering policies which limits communication with members of other clubs to strictly social interactions
I guess if you look on the bright side he still gets paid the same amount of money for less work.