Not the most realistic trade, but fun to think up something different. I think it suits the tendencies of both front offices pretty well.
Raptors: Get a lottery pick, but take on an awful contract. Gamble big on Patrick Williams rehabbing his value; if he does, raps get an elite defender that can space the floor and score off the dribble, if he doesn’t, raps get screwed with a terrible contract and probably have to attach assets to get off of it. Smith is an awesome fit, on a good contract, at a positional need. Raps run a 5% ish risk of loosing the pick in the lottery. Masai loves taking risks, and Bobby loves rehab projects, and they have seemed unafraid of big contracts recently.
Bulls: Notoriously cheap front office gets off of an expensive contract. Buy on a good young player that fits with their core, I think Barrett’s slashing, cutting, and finishing will fit well with Giddey, White, and Buzelis. However, team defence might be kinda questionable. Barrett IMO has shown some decent all-star upside in this season as well. While the top of this draft is very good, I honestly think anyone outside the top 5 will decidedly be less impactful to the bulls future than Barrett. (Hence the protection, trading Barrett for Flagg is obviously stupid). Bull’s FO mitigates risk, gets younger, gets off a bad contract. They can probably trade Vuc for a first this year and still pick as well.