This is exactly right. I wrote a post about this in the Shumpert thread but Rudy Gay @ ~$18.5M is a wash if Shumpert/Jefferson/James Jones are out and with the cap going up.
With that said, I expect the cap to go up further than expected (perhaps $105-106M), and I don't expect Gay to get $20M/yr, but even if he did, that's a reasonable contract.
If Cavs can make room they should; he'd be our 5th most important player after Tristan Thompson and would really round out our core against Golden State for the foreseeable future.
Adding Korver, I'm afraid we would be becoming too offense oriented adding Gay and at way too big of a price. To balance this roster, we need a defensive forward who can match up with KD. We can get that at a much cheaper price, which helps keep us deep, flexible, and better overall I think. You know it isn't because I think Shump is invaluable. But a role player that fits well, is young, and on a very good contract is actually quite valuable for us. Not just around the league, but especially to us because it allows us to play around with more money elsewhere and add extra pieces every year, whether it be MLE, TPE, etc. etc.
But if we are paying Gay 20+ mil, it really puts all of our eggs in one basket so to speak. LeBron, Kyrie, and Love will be making more money too, and all that cash on 4 players is really going to make it near impossible for us to add players with TPE's and MLE's to keep the roster strong. It limits our flexibility and depth. Which is a mistake the GSW are currently making imo. I understand Rudy Gay adds another dynamic, but I don't think he is worth that price (literally and figuratively). Especially when we have more than enough scoring already. The idea of Rudy Gay was much more appealing to me when Shump and Love were struggling. Now he would be eating shots from people that need them and at a hefty price.
However,
if we could convince Rudy Gay to take a discount in free agency, that would be much more enticing to me. Which also means his priority would have to be more about winning than money (which should be his mentality here anyway). Maybe he would take less per year for more years, which equals more money in the long run, on a championship team which he has never experienced. That should be quite the offer if I was him. Like around 3/45 or 4/60 instead of a 2 year deal where he is just going to get traded again anyway. If we could convince he could make a home here, perhaps he would like the discount. Probably a long shot, but I think it is our only shot. Us paying Rudy 20+ mil is a much longer shot. Which I don't think 3/45 or 4/60 is a discount anyway. I think it is fair at the least. Perhaps LeBron could convince him.
Which I think any team that is willing to pay 20+ mil a year for a 30 year old that isn't an All Star is crazy, but that is just me. Someone probably will get desperate though. They miss out on the big free agent, and throw their money at him as a consolation prize. Only to trade him a year or two later. Our pitch to him is that we will give him a permanent home, and he won't be playing meaningless basketball anymore. Maybe that is a great pitch and will be better than other offers he gets, who knows. I don't know if he values money or winning more at this stage, but I'd hope winning.
If not, I just don't think it is feasible for us to pay him 20+ mil a year. I think one of Frye or JR would eventually have to leave (with Shump already gone) and then it is minimum contracts rest of the way. Which wouldn't be smart. Depth can separate us.
I do think Rudy can be had for cheap though. Shump+Bird and a 1st really ought to do it. I don't think the Kings will get a better offer and would be happy to get that for a player that is gone anyway. But if it is a rental, it isn't a good deal for us either.