I think there is an excellent case for just keeping Smart. He is a low usage combo guard. He is our best backup point guard, and our best backup shooting guard, at least until someone like Carsen Edwards or Romeo Langford proves otherwise.
This does presuppose that he continues to play like he did last year. He showed newfound shot discretion and became an adequate 3 point shooter. Prior to that, he was a dismal shooter and scorer.
If he remains within his role last year, or if he improves into a bigger role, then he is a very useful player. If he becomes more aggressive without improving, he may become a much less valuable player or even become a problem. He's had problems improving on offense, and he's a competitive, emotional guy. I hope he doesn't regress by trying to do more than he's ready to do.