Stop.
I make some allowances for the young not knowing what they do and lacking perspective. I may have to apply that to the young ownership too, although I suspect this has a more cynical origin than all that. They want to retire a jersey on their own. And they want, in Maloofian fashion, to distract from the lack of exciting oncourt news with what they think will be an exciting event.
Doesn't change the fact Peja was a 2nd tier player, even by Kings terms. He has a good claim on being the best 2nd tier player the Kings have had, but he still clearly was no franchise guy or legend. He was a great great shooter who came up small in the clutch and didn't like the dirty work. He sat out with minor injuries. His production collapsed once he lost BFF Vlade, who probably deserves credit for some proportion of his points. During our closest call of winning it all, he barely played, shot 7-23 in the series, and 0-6 from 3ptland in the deciding Game 7, including famously airballing one late in the game. When you end up retiring the 3rd most important player on a team's number, you damn well better have won at least one title for each of those retired numbers. Peja wasn't a franchise guy, and he kinda quit on us after 03-04. In the end he was a 2nd tier guy who gave us 4 really good seasons.