One positive to this deal:
Bynum's got a tradeable, non-guaranteed contract for next year. So does Bogans.
In theory, you could combine those two non-guaranteed deals with some other assets to land a max free agent. Plus, we'd still have the trade exception to bring in another player.
I'm not sure that we'd have enough room under the luxury tax apron to make all that work, or who there are for free agents / guys on the trade block. It's the most realistic way of landing a premium free agent in a trade / S&T, though.