The deaths were a huge, huge blow. By many accounts, Bias would have been even better than Lewis (an elite, elite superstar--one of the best in the NBA). Adding him to the '86 title team (going into the '86-87 season), would have potentially been something for the ages. Imagine what adding another star player to what arguably is the greatest team of all time could have done. One also has to wonder if the Big Three would have held up longer had Bias been around to lighten the load (like would McHale have pushed through that ankle injury?).
Also, that Red story is clearly a bunch of B.S. and Danny know it too. If he really believed that, the Big Three would have been traded years ago.
First and foremost, even in the late '80s/very early '90s, the Big Three weren't that old and the Celtics were still pretty darn good. You don't go and blow up a contender so you can maybe get another contender later.
Second, who exactly would they have landed? There were rumblings of them acquiring Detlef Schrempf, Sam Perkins, and Chuck Persons. All were certainly good NBA players. But none of those guys were going to be the core of the next Celtic dynasty.
Quite frankly, Red knew better than to trade one of the greatest players of all time for several good NBA players. That never works out. Look at what Wilt Chamberlain and Charles Barkley netted their former teams. And while his gamble to try to win one more with Larry towards the end of his career didn't pan out, it's the smarter move to go for the title when you still have a chance than to trade that away in hopes that you might eventually contend again. Because in almost every single instance, the future reward doesn't work out.
So I am quite happy with what Ainge has done at this point. We almost won another title in 2010. I think 2011 with a healthy Shaq was the most talented team of the new Big Three era. And in 2012, we almost made it back to the Finals. While it didn't pan out, when you have a team like that, you don't deal it away for hopes of what might happen in the future.