The Grizzlies arguably have more depth at PF than any team in the league. They have a chance to consolidate a bit and get an all-star whose play style would mesh well with what they already do.
For Toronto, a deal like this is good value: A few unprotected picks, a movable contract in Kennard and two promising young frontcourt pieces. It also gives them add cap flexibility in case they're in the market for a bigger FA in 2024 or they decide to extend OG.