I'm not a huge fan of Kareem (though his cameo in Airplane! was absolutely hilarious), but he has a pretty good point. Kareem was the face of the Lakers for half a decade before Magic joined the team, and while Magic was definitely charismatic, I think we can all agree that Kareem is somewhere between 2 and 4 on the rankings of the all-time best Centers in the NBA (Russell and Wilt would come before him, and I'd place him above Shaq and Mikan and Olajuwon), and when you ask someone to picture a Lakers center, I think the only people who wouldn't say "Kareem" first are the people born after he retired. He has 6 MVP awards, the most points in NBA history, etc. What more does he have to do to warrant a statue? Sure, he didn't coach much for them, and he wasn't a minority owner, but if you wanted to apply that standard Jordan should never have gotten a statue because, hey, what has he done for the Bulls post-playing career?
As for the "mercenary" argument, I don't know if that was made tongue-in-cheek or not, but I'd point out that (a) Kareen was a Laker longer than any of the Celtics players we consider "icons" (except for Russell, Havlicek, and Parish); (b) LA has already created a statue for Wayne Gretzky, a guy who not only played for 4 different teams in his career but who is arguably known more for his time with the Oilers and Rangers than with the Kings; and (c) people have suggested without a hint of irony that KG deserves a statue, and he's not only a "mercenary" by that poster's description, but has been here almost a decade less than Kareem was with the Lakers.