They're taking more of a long-term approach with this deal as I don't see why Butler wouldn't resign unless some catastrophic happens the rest of the way. But man, that defense is going to be absolutely nasty and they're going to have a great shot at making the finals the next 4 years once they figure out the supporting cast a bit. I think it's smart to get your core locked up first though, then worry about the ancillary pieces later.
I think I would have traded Fultz over Bob Cov though. Maybe they tried and the Wolves didn't want him, but Cov is the exact kind of guy you want to put next to the new big 3. Fultz hitting his ceiling isn't going to be a guy who can fit in with a bunch of ball-dominant guys, he's going to be one himself. And a Simmons-Jimmy-Cov-Embiid defense would have been absolute drool-worthy.