Yeah, would have been ideal to keep Wiggins and then go out and bring in a guy like Mirza Teletovic or Markieff Morris (both of whom were available via free agency or trade this summer) who can give you most of what Love gives Cleveland at the 4.
The thing is, Love can only do show so much of his ability in the backseat to LBJ and Kyrie. He's almost definitely still a better player than Wiggins at this point (that will change soon), and was last year, but there's no room to exploit the skill surplus Love has over Wiggins with only so many touches outside of LBJ and Kyrie's hands. Wiggins gives you everything you could ask for from a third banana at the 2.
But this isn't a realistic question. LBJ didn't give the Cavs any option on Love. He would only sign if they promised to move Wiggins for an available star like Love. There is no world where the Cavs would have been able to sign LBJ and maintain the youth movement, unfortunately. I think that would have been really fun.