Not if it means trading a key contributor. If CP3 goes down you aren't making it far anyway. Nearly everyone on their team is productive, if you commit too much for an insurance plan then you may not be able to make it far while healthy.
Smith and maybe Shamet are the only 2 guys on their team that are expendable and have value to another team, probably not enough to get anyone worthwhile even with draft stock attached.
We're not talking about them needing a starting caliber PG. We're literally just talking about a PG that can help soak up minutes and run the offense with CP3 not on the floor. You can easily get one of those guys without having to give up a key contributor on the team.