His bad defense is overhyped. He's an average defender. Not terrible. The numbers back this up.
His benefit on offense far outweighs any defensive deficiencies in my opinion.
He's usually not the guy that's going to guard Zeller or Sully for 35 minutes a night, and if those guys are on the floor while he's an offensive option, your advantages on offense with his spacing and shooting will be greater than any defensive disadvantages he can post up smaller PF's and drag bigger PF's away from the basket.
My only real concern is his health, he's mobility appears limited this season.
But yeah, Kevin Love on this team would be a 24 point 10 rebound monster with an enormously positive Real plus minus.
He's a game changer on offense- they just haven't got it quite right in Cleveland yet. Although they're working on it.