If by miracles of all miracles, JO is healthy this year, he's still arguably a top 10 center. He also just only turned 33 (Paul's age) and the high school argument isn't really relevant with him, as he played less than he would've four years in college his first four years in the NBA with Portland.
Now granted, that's a longshot, still as JO proved last year, even when only partly healthy, he's still a heck of a defender and better on offense than many on this board would given him credit for. The last thing this team needs is to be looking for 2 centers this offseason.
Cutting him absolutely isn't an option.