The Wizards could have done a little better, but they managed to save $3.5M this year and like $56M over the next two years - that is a LOT of salary/tax. Also, if they decide they like either Portis or Parker, they can decide to sign a longer-term, much less expensive contract with one of them. Porter is decent, but he isn't an A-list star or anything.
My guess - the Wizards will be selling on Beal soon (probably in the summer) and begin an all-out tanking campaign before Wall returns. If Wall is playing at an all-star level, then they will have some nice young players to add to him; if not, then they have some nice young players to take over for him.