I appreciate the minority view articulated by
@CommD. You shouldn't just dish out 5 year max contracts lightly, especially when we have a year of evidence that Love wasn't a perfect fit and we have the injury concerns (back and now the shoulder). It is not unreasonable to think that you could add pieces around LeBron/Kyrie that fit just as well and that would provide the franchise greater flexibility going forward. (And yes having a team salary in the tax and/or over the apron does limit your cap flexibility in meaningful ways.)
Gouri has been the most consistent and vocal advocate of the opposite view, that superstars/stars are essential to success in the NBA, and he has even outlined a scenario where the Cavs add a 4th max (Aldridge).
A flaw in Gouri's argument is that just because a player is a max player doesn't mean he is a superstar (or even a star) or that he "deserves" the max or that you couldn't get the same production for less money or that he is the best fit for your team. Many understandably are still thinking of LeBron's first tenure here when he left for a team with actual stars. But the fact LeBron left 5 years ago doesn't mean you sign the wrong guy to a 5 year max today.
I think most of us can agree that Love was underutilized this year, but even if he just provides elite defensive rebounding and the ability to spread the floor from the PF position, those are very valuable skills. I don't see a way to replace that in one player. And this is a minimalist Love. if the Cavs figure how to maximize Love (as they seemed to be figuring out), he's a lot more than that.
Just to be clear, my position is to re-sign Love for pretty much whatever contract he wants, so long as he checks out physically.
I have no interest in addressing the Wiggins debate, except to add that if Wiggins had been on the roster, the Cavs likely wouldn't make the Shump/Smith deal. I would much rather have either Shump or Smith on this team than Wiggins
at this point, and the Cavs ended up with both. Smith is the far superior shooter and Shump is the better overall player, again,
at this point. Now I am talking just about this year, but valuing this year is reasonable given that the Cavs are now on the verge of the finals. In fact, even with Love missing most of the playoffs, it's hard for me to see how the Cavs make it this far without having made the Love deal, in part because it ultimately led to the Smith-Shump deal. Without Love, they would have had a huge need for a stretch 4, and that would have been their main focus, and I highly doubt Griffin could have dealt Waiters for a PF as good as the Smith/Shump combo at SG, not to mention Mozgov too.
So realistically the Cavs have:
Love
Shumpert
Smith
Mozgov
Without the Wiggins-Love trade, the Cavs have:
Wiggins
Bennett
Waiters
2015 Miami first (which ended up not conveying this year, by the way)
Memphis pick
And Griffin is left looking in vain for someone, anyone to take Waiters and Bennett off his hands for a viable PF AND help at SG AND a legitimate center to protect the rim. There's just no way that second team is anywhere near where the current team is, and the current team is well-position going forward, so long as Gilbert is willing to pay.