No, and that's a fair point, these are only the questions that come to my mind when reading this, certainly not "something that happened".
By all intents, though, Bollea is (at least to his own words) "near bankruptcy", due to divorce. So it seems odd that he'd also - after being awarded a large sum - which is all he'd sought before - _then_ decide to drop the claim which offered him his only real chance at seeing any noticeable part of that award.
Certainly there is more to life than money, though, as you point out, moral codes and honor.
I also am curious as to whether he would have gotten the award he did if the jury felt that it would bankrupt Gawker, rather than cause an insurance liability payout - that seems a little bit unusual.
This is an admittedly contrived example, so bear with me - there are some analogies, and some discrepancies, and this is the best I can do:
I am driving negligently. Setting aside any criminal charges that may cause me to face, I come careening through and have an "accident". Subsequent to that, your property is destroyed, perhaps as part of a chain reaction, me coming through the fence. Perhaps as a result, you're injured. You lose your livelihood, you lose your house.
You sue me, for damages related around this whole messy incident. Medical costs. Lost livelihood. The loss on your house when foreclosed, damages etc.
The jury says hey, you're absolutely right, he was negligent and we're going to award (say) $2M in damages.
Here I am, I'm a careless and reckless driver. But I do have good insurance. It has a whole bunch of third party, property, and liability coverage. So it sucks for everyone, but you have the ability to be "made whole" (as far as is reasonably possible). I on the other hand am out of business. The vehicle I drove was my truck I used for my own business. My fault, consequences of my actions, etc, etc. I'm probably done for.
Then you decide, at the last minute of the court case, to drop any claim of damages explicitly about the accident. "Nope, we don't want to pursue the damages claim directly related to the accident itself. We are still going to pursue all claims related to any of the fallout, the loss of house, livelihood, but the accident itself, we're waiving that".
This has the curious effect of 1) meaning my insurance company says "Well, sorry, pal, we no longer have an interest. You're not being sued over damages due to your accident, you're on your own", and 2) which you realized, also realistically means you have near zero chance of collecting any of the moneys awarded, because this is putting me out of business.
I would certainly be asking questions of you there, were I the judge: are you aware of the consequences of this decision? what motivated the change, certainly at this point in proceedings, and I'd be asking the jury how that would affect the award, because in most cases there is going to be -some- (not the only) element of the likelihood of payment of the award.