Selby hasn't proven he can involve others while creating his own offense, and he's a second-year player. Just because the "PG" position has changed (which I disagree with, but I'll play along) doesn't mean that teams don't need somebody to take care of the ball and involve others in the offense. Whether that person is short or tall, it doesn't matter, but every great team has a player who can dominate the game with the ball in his hands and create offense for himself and others.
I've always felt the same way about Selby. He's a really talented scorer, but placing him out there with Conley would be the death of the Grizzlies on defense. Conley's an elite defender, and a lot of people forget that he was second in the NBA in steals last season, but that lack of size would kill the Grizz if they ever played them at the same time.
However, I have to wonder if the Grizzlies had a plan to compensate for Selby's lack of height when they drafted Tony Wroten. I really hated the Wroten pick when they made it, but I warmed up to it with the signing of Bayless, as well as Selby's summer league performance.
Mayo provided very empty scoring at the 2, and he was one of the worst decision makers I've ever seen play for Memphis, so the thought of Selby or Bayless splitting the minutes at the 2 and replacing the same empty scoring but with better decision making actually sounds like a huge upgrade.
Wroten factors heavily into the equation, because while he's still not the best decision maker, and he's a horrible shooter, he's a hell of a player to have initiate your offense and bring the ball up the court in reserve minutes, and at his size, he can defend your average 2, allowing Selby and Bayless to hide their defensive deficiencies while (hopefully) negating Wroten's horrible shooting abilities on offense at the same time. I'd figure that Selby (and Bayless) will most likely figure into their plans as key reserves at the 2, mostly playing when Wroten is at the 1. God help us if they decide to throw out a Selby/Conley backcourt though.
But yeah, he definitely either needs to learn to become a more cerebral point guard or sign on with Miami to really become anything more than a scoring burst off the bench, whereas Lillard showed that he has star
potential (and I'm only using the word potential because if you look at the list of great summer league performers, you have a real mixed bag... we'll find out more in the preseason.)