The contract, the age, the defensive limitations, and the injury risk are too much to take on. Beal is a guy a more desperate franchise should go for.
Also, the new CBA just destroyed his market. Back when the penalty of being a tax team was mostly just money, it was easier to justify taking on an older player with a humongous deal. Now even the rich teams have got to be wondering how to cut salary into the future, not add it.