That's not at all what @Gguod is saying. He's saying instead of spending big money on role playing veterans, that we should have first looked to trade that cap space away for bad contracts w/ picks tied to them.
Whether that team we build following this process is successful is completely irrelevant. He's stating a process that we should have followed for a rebuild and he's calling out that we didn't follow it. We could easily have drafted the next Papagiannis with that pick we acquired. That's not his point. His point is we should have been in the business of collecting young assets/picks by trading away our cap space and we simply were looking to cut corners and use our cap space to sign veterans to help us win now.
That's not a proper rebuild.
No, this isn't correct. We received Iman Shumpert, Joe Johnson, draft rights to Dimitrios Agravanis, & MIA 2020 2nd (which is projected for #55 right now).
You and Gguod have the right idea in mind as far as trading cap space for bad contracts +picks but that's not really what the market is dictating these days. Teams aren't really trading away first round picks to get rid of bad contracts anymore. The idea is great but I don't believe the deals are available since other teams aren't really getting those deals either.