Interesting question.
Phil and the Knicks know for a fact Carmelo won't fetch back much in any deal, and Porzingis is VERY frustrated with the Knicks as it is.
If the Knicks, in a sense, "blackmailed" us into saying, "look, we can work out a deal for Porzingis involving BKN Pick+, but you also have to take back Melo with his albatross contract".
Would you do that, or would you keep BKN Pick, Draft Fultz/Jackson, then sign a max FA like Hayward/Griffin/Millsap (someone)?
Keep in mind that would mean THAT'S our team going forward and it's a question of, is that team good enough to win a championship. Certain pieces (like Bradley, maybe more) would need to leave also to make the cap and $$ work, and to use Bird Rights to keep the likes of IT, Smart.