Waters has actually shown a pretty nice shooting touch. 39.5% from 3 on 1.5 attempts a game. 94.1% from the line. He seems like the exact type of player you'd want on a 2-way contract i.e. situationally he has a high value because he has an elite skill.
Given our current situation at point guard, I'm not so certain he wouldn't be better than Smart as a starter. It would be worth a try early in the year to see. He's can shoot and can beat guys off the dribble, but more importantly, he provides better pace and movement. He's also somehow able to be a plus defender out there, which is pretty amazing.
He may never be able to get over the top and be a real starter or even a rotation player, but we don't have a great solution in Smart. I'd want to try out both Pritchard and Waters before giving up anyone.
Waters started several games this season and he did not look very good. I think Smart will be a good fit as the starting PG now that Kemba is gone. Would at least give him until the trade deadline to see how he does with a new role and coach. The only consistent problem that I had with Smart was his 3pt shooting. If he can limit his total shot attempts to 6-8 per game and focus on passing, I feel like he will be solid.
Smart can't shoot only 6 to 8 times a game or he would have done so already.
We've been using him out of position as an off-ball shooter. He's mostly attempting catch-and-shoot 3s. I bet CBS wanted him to be taking most of these 3s. Here's a stat regarding Smart's 3pt attempts this season.
Zero dribbles prior to a 3pt shot: 4.3 attempts per game
1 dribble: 0.8 attempts per game
2 dribbles: 0.3 attempts per game
3-6 dribbles: 0.5 attempts per game
7+ dribbles: 0.1 attempts per game
He didn't have to shoot though. He could have driven to the hole. The simple truth is that is 6 shot attempts that are objectively bad shots basically every single time because Smart is a bad shooter. He didn't have to shoot, yet he did, constantly. It doesn't matter what position he plays, it doesn't matter who is on the floor with him, Smart just can't help himself.
Of course it matters what position he plays. It ain't his fault that we were using him out of position. Smart is a willing passer and a reliable PnR ball handler. To put it another way, he's a PG. He's not a slasher. Why would you want him to attack the basket? Again, I bet CBS wanted him to be taking most of these 3s.
Btw, he's not a bad shooter.
3P%2018/19: 36.4 (in 4.3 attempts per game)
2019/20: 34.7 (in 6.6 attempts per game)
2020/21: 33.0 (in 5.9 attempts per game)
FT%2018/19: 80.6
2019/20: 83.6
2020/21: 79.0
These are about average shooting percentages in my book. Definitely not bad.