Love is not a bad contract, flat out. Even right now at his absolute lowest value.
Let's just look at the money and age. He's turning 31 this season. He's only making 29 million dollars.
Age 31- 29 million
Age 32- 31 million
Age 33- 31 million
Age 34- 29 million -expiring contract.
In 2019, especially...that is simply not a bad contract in the slightest. It doesnt wildly increase with raises, and actually goes down at the tail end of the deal. For a guy who will be an elite rebounder, an elite shooter for his position, etc that is a good contract. He is a great locker room guy with championship pedigree. Other guys want to play with him. He is the rare all-star level guy who knows how to make the required sacrifice to be the #3 on a contender.
Given his injury history and the contract length, of course that does depress the value somewhat. Standing alone Love is worth a lottery pick and good young player. Given the other factors, that probably decreases to 1 of the two, or some combination of lesser picks, etc.
If it was a "bad contract", the Cavs would be a lot m,ore receptive to trading him in the current market for his services than they are. In reality, the Cavs greatly value Love, and there is no incentive to just get rid of him because of his contract. The Cavs would never pay someone to take his contract and they're not going to trade him without a good return.
John Wall is a bad contract. Kevin Love is not.