This trade seems to be a better overall fit for where each team is right now and what they are looking to do moving forward.
The Rockets desperately need better shooting and, with the ascension of Amen as an on-ball defender, they don’t really need what Dillon provides as much.
With Risacher and Johnson, the Hawks don’t need another of the same archetype in Hunter and have been trying to trade him for a while now anyway. The Hawks do, however, need better on-ball defense next to Trae and Dillon could play the 2 far better than any of the other wings on their roster. This trade gives solid shooting and great defense down the roster to bolster Trae’s weaknesses.
The Nets seem to be in the early stages of a rebuild (though they certainly are taking their time about it). This trade slightly downgrades at that wing position and saddles them with a significantly worse contract, though that can oftentimes be useful for a rebuilding team- making sure they reach the minimum roster salary and giving them a larger contract for trade talks down the line. In return, they remove Houston’s swap rights to their 2027 first giving them more control over their future.
The biggest concern I see is that as of right now, Houston is expected to be much better in 2027 and that Nets’ 2027 first seems like it might be pretty valuable down the line and so the better fit and 2nd rounder might not be enough for Houston to make this move rn. However, seeing as these guys are all on 3-year deals, this trade could be done at any point over the next couple years.