This has crossed my mind. I know that Jokic refused to sign the extension with Denver, supposedly because it is more advantageous for him next year. That may be true, but it's also true it places a lot of pressure on Denver.
Denver has one of the worst "war chest" of pick assets in the league. They have no 2nd round picks available for years and only can trade their 2031 1st round pick.
Cam Johnson may not even be a positive asset right now. Gordon is quickly becoming a meh asset as well with his soft tissue injuries, although he still probably has positive value. I even think that Murray is significantly more valuable to Denver than he is to any other team in the league because of his positional importance next to Jokic.
On top of that, Watson is probably not worth 25+ million a year, but they can neither afford to pay him that and go significantly into the 2nd apron, nor afford to lose his talent on their roster. It's basically the same situation as they had with Braun, who is a positive asset, but is probably overpaid.
Other picks like Pickett, Strawthor, Nnaji, and Holmes just haven't panned out like they needed them too. The Jonas signing didn't work like they hoped.
They are throwing a desperate Hail Mary right now at Lebron James. That they are a finalist is a sheer credit to Jokic (and not their front office, or supporting cast), but James will not end up going there.
If a team can give all the picks the Nuggets want, with a couple decent young players to fill out their roster, I would think the Nuggets would consider it. I'm not even sure there's another team positioned as well currently to go after him.
If the Nuggets were quietly considering trading him, and the Celtics offered Queta, George, another young prospect (preferably not Hugo because I think Hugo would be a star next to Jokic), and all their available firsts or swaps, and multiple seconds, I would think the Nuggets would consider it. I don't think another team out there could/would conceivable beat that offer with the current roster constructions.