Separate the two. The Noah deal is bad. The trade was a 13 million dollar average Center and a low tier prospect for a big expiring contract and a quality rotation piece (and a second round pick in this deep ass draft). That's not a bad trade.
You can't separate these things, because he did all of them. If he wanted cap space, he could have let Melo walk. We gave up the best player on a good deal, and we're gonna walk away with a second round pick. That's not a good trade. We have to take his work as a whole, and it has been poor. That doesn't negate the few bright points, it just means there are more botches.
The team was trash when he took over and it was also capped out with 2 out of his first 3 1st round draft picks traded away while the second best player publicly let it be known that he wanted out. This team has had a minimum of 6 players under 25 in each of Phil's years in spite of that. They've gathered more second round picks, turned a second round pick into a quality player, drafted a franchise level prospect and have another shot at a franchise level talent in this draft because of how good the top 10 players are in this one.
The top 10 players in this draft are not all franchise level prospects. And we often generously forget how bad his 2014 2nd rounders turned out to be. Also his handling of the chandler trade was horrific, with inferior big men getting first rounders, about two months later.
Dude has brought in vets that haven't worked out but been able to move all of them. Same with every veteran not named Noah on the roster right now; the majority of Knicks contracts on the books right now could probably garner some type of value in return. So from a roster loaded with albatrosses, no picks and Shumpert as the best young player on the roster to majority fair deals, picks in perpetuity and KP/Willy in place over three years isn't awful...not even calling it good here, go re-read the post...just not awful.
"not awful" isn't good enough.
It's hyperbole to call that contract an iceberg. It's not sinking the ship when the team has around 20 million in cap space despite it and every other contract is movable (assuming Melo waives his clause which seems likely at this point). It's an awful deal just like a bunch of deals that were signed in the frenzy last summer, especially the deals that big men signed. Good teams don't do that, sure; good GM's don't do it, true big mistakes are rare for the better GM's. But since my only case is that Phil hasn't been completely terrible because he's maintained flexibility into the future
But he did NOT maintain that flexibility. The cap going up an astronomical amount gave him that flexibility. If they just kept Lopez, and didn't sign Noah, they'd have MORE flexibility, not less. Plus a better, younger player.
With 20 million dollars in cap space, a young roster, draft picks going forward including a top ten pick this year guaranteed...that contract is an ugly piece of crap but it's not stopping the direction of the team if Phil does the smart thing and sticks to a rebuild.