Why Pitta should
Pitta is still one of Joe Flacco's most trusted targets in the passing game and is a difference maker in the red zone. His injury was a fluke after all. Sure, that's what they said about it the first time, and it's definitely more scary when he just goes down untouched while running a normal route. But maybe Pitta falls somewhere in between Sean Lee and the Arizona Cardinals for Bad Luck With Injuries In 2014, and that he goes on to have a good career without incident, making Ravens fans forget all about Todd Heap. And besides, he's probably making cash in 2015. He should at least play.
Why he shouldn't
He suffered a non-contact injury in the same hip that he injured in 2013 that was supposed to be perfectly healthy going forward. He's going into his 30's, which as we all know aren't usually friendly years for most non-quarterbacks, much less tight ends who make their living going down the middle and making the tough catches that Dennis Pitta (and other Ravens tight ends) stereotypically do. Frankly he's lucky that after back-to-back hip dislocations that football is even in the consideration for Pitta. Pitta's risking a lot by going back to football. His hip went down without anyone hitting it and every time he catches a pass down the middle he's risking having another dislocation. There's also a lot of thinking he has to do for the long-term as well. Dislocate his hip again, things might not turn out so well. He has a family and he might not want to miss out on that experience because he injured himself. He also has made it pretty well. Between his rookie contract, the 2nd round tender in 2013, and his contract, Pitta's made some cash, and he's won a Super Bowl ring. That's a pretty good career.
Which ever way Pitta goes, it's a big decision for him. It would be wrong to criticize him for walking away, but if he came back I think we would all hold our breath after every tackle.