Trading Young or cutting him would be sub-optimal, but realistically it might be the best option. The C's have 16 players under guaranteed contract. Someone has to get cut.
But here's the thing the pro-Young crowd has to realize: if you don't cut him, presumably you're picking up his option for next season, which has to be exercised in October. And we have probably three more first round picks next season, a bunch of seconds, and eight other players with guaranteed deals next season. So if he doesn't develop this year, you're running into the same problem next year, except now Young has zero trade value.
In my opinion, if you can't trade a big, then Young has to earn his spot. If he can't beat out PJ3 for the spot, oh well. We have a lot of picks forthcoming -- some aren't going to work out. We should get used it. On the flipside, hopefully we get some gems in there too, but we shouldn't keep Young around for two more seasons just because he was a 1st round pick last year.
Of course, I'd love for Young to show up to training camp and seize that roster spot, and a spot in the rotation. But if he can't do it, then it's best to ship him to somewhere that has more patience for whatever they'll give us.