I disagree. When I watched the games I saw Chandler playing as a fairly ordinary defender, far from the level he used to be at. His screen/roll defence was particularly bad, but even at the blocks people were forcing him to take retreat steps more than usual. Probably a consequence of the injuries, but still... Stats also show the Hornets allowing more points per possession when Chandler was on the court, but I don't think that's meaningful.
In all honesty, I believe this trade may very well make the Hornets better this season, especially considering Chandler's injury. Now, for the future, that's another story...