It's tough. You gotta think about it in context. Here's Bill Simmon's take:
FYI: Celts aren't moving Rondo unless they can dump multiple contracts in the trade. They want to fully bottom out while creating cap space.
I'm intrigued by these Mavs-Celts rumors. Would Dallas take on the Wallace/Lee/Bass contracts with Rondo for Larkin + Marion/VC expirings?
You have to put it into context. On the surface that sounds like a terrible idea. Totally dumping Rondo for what amounts to a late 1st rounder in Larkin. Yuck. But it's more than that. That trade is defensible.
Bass is a bad contract: 6.5 mil this year and 7 mil the year after that.
Wallace is a bad contract: 10 mil, 10 mil, 10 mil.
Lee is a bad contract: 5.5 mil, 5.5 mil, 5.5 mil
We don't even know when Rondo will be healthy... he's on the books for 12 mil, 13 mil. Shoot, if he misses all next season he could be a sitting duck in 2014-15... we could end up loosing him for nothing, but I digress.
You do that trade and you are sending out Rondo (12 mil), Bass (6.5 mil), Lee (5.5 mil), Wallace (10 mil) ... total of 34 million.
You are taking back: Larkin (1.5 mil), Carter (3 mil expiring), Marion (9.3 mil expiring) ... total of about 14 million.
Hidden benefits:
#1 Doesn't that mean you're instantly getting a 20 million dollar trade exception?
#2 You'd lock up the tank. No way that team finishes out of the bottom 6. Same rationalization why the veto'd Hornets trade made sense... why lock up your team with garbage Scola/Odom/martin salary on a likely 38 win team when you can bottom out and have a shot at a lotto pick (they used on Anthony Davis). Smart move by Hornets ownership to have vetoed that deal.
#3 You'd have buttloads of cap space next year. I mean you can make a play at LeBron in free agency (which is unrealistic), but you could also use that cap space in the same way the THunder did... you take on bad contracts and pick up draft picks in the process. You basically rent out cap space.
Flexibility is the name of the game. Even a trade like that ... which seems "awful" at first glance has some serious benefits if a smart GM like Ainge is at the helm.
Personally any combo of young talent, cap space and/or 1st rounder(s) works for me.