This really depends on how the Rockets view Sengun vs Jabari. Last trade I recommended Donte and 2 protected firsts from Washington and Detroit for Jabari. This time I just made it a swap. I view Jabari as a more valuable asset than Sengun due to his better shooting and defensive versatility. Right now Sengun is the better player being a mini Jokic basically. If the Rockets see Sengun improving at the usual rate then this trade would def not happen, but if they think Sengun has kind of tapped out his potential than this def could happen.
Why each team does it.
Jazz: same old same old getting 4 unprotected firsts and a promising young player with potential in Jalen for Lauri is a pretty great deal.
Rockets: After seeing how the season ended they want to shift Jabari to center full time. A starting 5 of FVV, Donte, Brooks, Lauri, and Jabari would be really great defensively on from 3. The bench unit is also going to continue to be very promising with multiple high ceiling and already quality role players with guys like Amen, Whitmore, and Eason, while still having vets like Adams, Jeff Green, and Jock and also Reed Sheppard is there I guess. This also solves the money issue for the time being not having to sign Jalen or Sengun to maxes(they will sign Lauri though).
Knicks: Giving up Donte makes a lot of sense outside of the Nova Knicks as Donte as a top 3 and d shooting guard in the league and the Knicks already have Mikal starting and McBride who can do a similar job to Donte(not as good right now but maybe eventually). Getting back a guy in Sengun who if he develops a three point shot can be an absolute animal offensively while being covered defenively by the likes of Og, Mikal, and Hart. Hes also a great rebounder fitting the Knicks culture there and would provide spacing like an iHart on steroids to Randle which when iHart was starting is when Randle played best.
Once again there is a good chance the Rockets and Rockets fans value Sengun way higher than this but I personally think Sengun is less valuable than Jabari and I think 2 protected firsts and Donte is a fairly fair deal. Note that it is beneficial for the Rockets to get rid of one of these 2 in a trade for Lauri as Lauri would fill in that 4 spot, meaning Jabari or Sengun(likely Jabari at this point) would have to ride the bench behind the Rockets' two best players. One could make the argument that Lauri can start at the 3 and that would be a really interesting lineup but would be insanely expensive in 2 years with all three making maxes or near maxes assuming Jabari progresses normally and still having to pay guys like Eason, Whitmore, and Amen who will all demand at least a decent quantity of money even if they stay at the same productivty.