On flip side, they are risking two things if they keep it:
1. LA, at present, sucks and sucks hard. They are definitely keeping the pick this year, so, add a top-3 pick to Randle who comes back and use 30+ in CAp to go after two players who have publicly expressed a desire to play for Lakers. With or without Kibe, that's attractive, and if it happens, that is likely a late lottery, maybe 7-8 seed playoff team depending on how the other Western teams handle the offseason.
2. That the Lakers, a bottom 3 team in NBA this year with vets, actively tank once Vets are off the books and after swinging/missing on top Faa, Lakers end up in the top-3 again, so Lakers keep 1st again, adding another top-3 pick to a top-5 pick, to a top-7 pick and get Kobe off books, adding 24 million to existing 30 in space, and gaining roughly 10-15 more when CAp increases. So, now, the Lakers in a prime year for Free Agency, have 50-60 million in CAp and multiple high lottery picks. So, assuming they nab a FA in 2016, now they may be a playoff team again and pick is a lot like Hawks pick in 2008.
It was just as much a gamble to keep the pick as it was to trade it.
And, yes, Bledsoe is a PG. Knight it a PG. But only one of them has their full knees.
It's not that far fetched to think within two years Knight is a 20 PPG scorer in highly efficient perimeter shooting and the Lakers 1st given to Philly is mid-round.