I tend more to the idea that positions are defined by who you guard. Because Pippen initiated the offense for a lot of his teams, but I wouldn't say he was playing guard. I think offensive designations aren't terribly important. You need a certain amount of passing (initiating), scoring and rebounding, but it doesn't really matter where you get it. If your center is your best play-maker for others (Bill Walton), that's fine...but it doesn't make him a "point guard." You could call him a "point center," but then you're getting into the realm of creating "positions" that may only ever be used for a handful of guys in NBA history. I prefer to think of guys by the position they defend (by and large...it's not a hard and fast, as some players can and do guard multiple positions at different times) and worry less about labels on the offensive end.
Right now, Roy is the main initiator, regardless of whether you consider him a "point guard." Barring a trade for an elite passer, I think Roy will continue in that role for the length of his contract with Portland. I think Batum will develop some distributing skills with his passing and Bayless will, too (even if he can never be the primary play-maker). All told, I think the team will have sufficient passing, even if they have no one that is considered a traditional point guard on offense.
