As I posted elsewhere I think this trade makes some level of sense for both teams
Smart, White, Nesmith, 23 1st, 25 1st (top 4)
for
Beal, Smith
so post-trade contracts
PG - Beal, Pritchard, Smith
SG - Brown
SF - Tatum, Hauser, Stauskas
PF - Horford, Grant, Morgan, Fitts
C - Rob, Theis
That leaves 2 open roster spots with all the TPE's and the TMLE though not much draft capital. Team clearly could use a wing or two, but I think there may be some targets out there with the TPE's that might serve more as salary dumps for the team trading i.e. guys like Duncan Robinson or Maxi Kleber.
Yeah, that’s a pretty bad return for Washington. White and Smart are repetitive, both combo guards that are very good defensively, but can’t shoot. Nesmith is worthless at this point and the picks most likely aren’t going to be very good for the next 3+ years. Jrue holiday netted New Orleans: Steven Adams, Eric Bledsoe, two future first round picks, right to swap two additional first round picks. Beal is a better player, The Wizards would never accept that offer.
First, the Bucks gave up Bledsoe, Hill, Hampton, 2 future 1st's, and 2 swaps, so Adams didn't leave Milwaukee in that trade. Bledsoe and Hill had no value and probably cost the Bucks a 1st and a swap to get out of the contracts.
Second, Smart and White also much better players than Adams and Bledsoe and Holiday was brought in to ensure that Giannis signed his supermax, so they had to do something.
Third, Holiday never asked to be traded nor was requesting out. In this scenario Beal would be.
I do suspect, Washington would move Smart or White, if not both, in that scenario, but they'd pretty easily get at a minimum a 1st round pick for either one. So they absolutely could go all in the draft pick route if they wanted.