Most of the conversation is how the Bucks won't trade Giannis unless they can be guaranteed to stay competitive or get a kings ransom in picks. I think this trade achieves both goals.

The Bucks take a shot on Zion while also getting picks. Sure Zion isn't Giannis but this may be one of the highest upside players they can get that, if it pans out, keeps them competitive. Zion is also young enough that you have a longer runway to remain competitive. If things don't pan out, they get both the Spurs and ATL lottery picks this year (unless either one is first overall), ATL unprotected 2026 pick swap, their own pick back from NOP to start controlling their own future again, and BOS 2028 pick swap.

NOP gets out of the Zion business and rounds out their roster. Vassell would fit nicely between Murray and Murphy, while Sochan fills in the 4 spot and becomes more of a connector than Zion for the rest of the roster so Murphy and Vassell can keep growing. Keldon is included to match salaries and help off the bench. For giving back the Bucks 2027 pick swap, the pelicans get ATL 2027 unprotected pick.

The Spurs get Giannis and take on the remainder of Kuzma's contract as the price for doing business.