Why the Los Angeles Lakers could say yes:
Jimmy Butler obviously is not on the level of LeBron James but that does not mean that trading for him would take the Los Angeles Lakers out of title contention. With Russell Westbrook on the team this season they probably would not get far but a duo of Butler and Anthony Davis can absolutely contend with the right pieces around it.
Heck, that is a better version of Butler and Bam Adebayo, who is a very solid big man but does not have the top-seven ceiling of Davis. The title odds would be lower with Butler than they would be with LeBron, but the Lakers would be looking at the big picture.
Butler has four more years under contract after this season and his new extension with the team kicks in after the 2022-23 season. While that extension does get pricey towards the end, that is the way that the market is trending and if the Lakers are going to get a star then that is what they are going to have to pay.
Los Angeles would essentially be flipping one season of LeBron for four seasons of Butler and two draft picks. The first season might be more of the same from this season but after that, the Lakers would have the cap space to add pieces around Butler and AD and build a contender.
Those draft picks could be huge for the Lakers as well with the team not having much future draft capital. While Miami is always solid, the hope would be that LeBron leaves after one year and the Heat cannot sign another superstar, resulting in the Lakers getting two solid draft picks.