I understand that the cash from the trade doesn't give us salary cap space, but that doesn't mean it is meaningless. There are ways for us to get over the cap, and this $1M could give us the willingness to go an extra $1M over the cap than we would have been willing to otherwise. Maybe we aren't even willing to spend up to the cap, still this $1M could give us the willingness to spend an additional $1M that we wouldn't have otherwise. This $1M could be the difference between, say, signing Kyle Guy to a rookie deal and not signing him and leaving an empty roster slot.
As fans we get into this mode of being amateur capologists playing against the cap rules with monopoly money. Sometimes we forget that NBA teams are playing the same game, but with real dollars. To Vivek and the several minority owners, this $1M is real money, with real consequences. It's easy to say, "Oh, the team is losing money and Vivek just has to pay an extra million dollars, what difference does it make?" But try putting yourself in Vivek's shoes. "Here's a million dollars of my own money, I'm going to light it on fire because it makes no difference!" Of course it makes a difference.