I don't think you need to tank right off the bat. If someone's going to overpay with prospects and picks for a guy like Gay or DeRozan, absolutely go for it. Otherwise, let the current group roll into next year, and make a decision by around Christmas whether to blow it up or not.
There's also the possibility that it ends up being a great season to pick up talent with a lot sellers and very few buyers. The best strategy is rarely what everyone else is doing, and there might be the opportunity for a savvy and opportunistic GM (Ujiri, hopefully) to rob a bunch of other teams blind.
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