Just curious...
How would you have reacted if the Blazers went into a summer with about $40 million in cap space and didn't sign any free agents and on top of that let all three of our own free agents walk?
Anyone who says they'd be okay with that is a fucking liar. Crabbe scored 31 points the other night, there would be posts complaining about how awesome he is and that Olshey sucks for letting him go. I think Sly has the most reasonable post that they should have retained guys on more team friendly deals.
As for the flexibility angle, the only real difference right now is the full-MLE vs the tax-MLE. They would've had to sign SOMEONE to a deal. Even if it was doing what the Lakers and 76ers did this year where they overpaid for free agents but only gave them one year deals. They might have kept and paid Plumlee, who knows.
Lets say everything else happened exactly the same for this discussion (except not giving Vonleh away) then they'd be faced right now with almost the exact same situation. They'd only have significant cap space if they let all of the free agents walk again, then what? If you re-sign everyone, even on cap friendly deals, you are still over the cap and have only the MLE and BAE to add the roster.
Currently the TPE is worth more than the full-MLE, especially when you consider the fact it's hard to get good free agents here. The smaller TPE is worth more than the BAE. We still have the tax-MLE too. So no we wouldn't necessarily be more flexible, in fact we might be less flexible being around the cap because we wouldn't have the TPEs.
Now the question becomes whether they use any of that flexibility to improve the team or stay concerned about the tax. Based on the Dame/Allen meeting and the Olshey comments I'd guess they agreed staying under the tax line this year unless something really great came up was the smart move and that this summer they'd spend the necessary money to improve the roster.