If the Hawks are really interested in Clingan (as reported by multiple insiders), I think this makes sense.
The Rockets could get a good point guard (at a good value) who fits well with the core in place. The value is good for the 3rd pick in this class, considering the players that will still be available (Sheppard, Holland, Dillingham).
The Hawks trade down and get Clingan, who is NBA-ready. They also get Grant, who fits well with Trae, in place of two guys who didn't play a significant role. It's a good move for their win-now mode (getting Thybulle too). They get a core of Trae + Grant + Johnson + Clingan (depending on what happens with Murray).
The Blazers give a lot but we can separate the trade for them into two parts (value-wise):
They get Sarr (for Simons and the 14th pick)
They take on Hunter + Capela and get Eason and a 1st-round pick in '25 (top 12 protected) for Grant + Thybulle
It's a big change with the departures of Grant and Simons, but they get Sarr (and Eason + 1st round), who fits perfectly with Scoot and Sharpe. Capela and Hunter can bring some veteran and defensive presence. There is a logjam at the center position that needs to be dealt with.