They are big losers in terms of perception. They created the hype of FA fireworks themselves by being overconfident Kyrie and Durant were going there. However, once you get past that, their team did not get worst and they're still on the same rebuilding track as they were before. Yes, they dealt Porzingis but you could argue it wasn't so smart to give him the max deal he expected considering his injury history. Also, he didn't want to stay, so there's that.
Toronto looks to be a half-loser because Kawhi is probably leaving, but since they won a title you can't really be too disappointed in that. Also, Kawhi looks to be going to the Western Conference.
I hate to say it, but Boston is probably the biggest loser. Our star players went to our direct competitors in the East. We signed Kemba, but it also capped us out. Unlike any of the other Eastern playoff teams we have a "gaping hole" in the frontcourt and limited means to fill those spots.
Even if we do make some trades to fill those spots, some of our vaunted depth is going to be further depleted (most likely Smart, Theis, and/or Brown, unless we stab Hayward in the back and deal him at his lowest value).