You're not reaching.
Remove his basketball ability from the situation, it's a horrendous decision from a financial standpoint. You'll still have the diehard fans, but you best believe if/when they crash out in the playoffs this season, their attendance will start declining and so will all their profit margins.
Even a franchise like the Lakers, who'd still have monetary success, regardless of the personnel on the squad, they wouldn't dare let go of someone like Luka, even if he was half the player, if he was still that big of a draw for the franchise to capatilize off. The fact that Luka just landed in their lap like this (out of all the franchises) is what makes this even harder to believe.
He doesn't even need to bring the Lakers any championships. The Lakers won just by simply having him.