Los Angeles Lakers trade grade: B
This is a solid trade for the Lakers and while the team is moving laterally talent-wise, it would make the team better as a whole. Fit is everything in basketball and both Dinwiddie and O'Neale would fit what the Lakers need out of their positions more than Russell and Prince do.
Plus, it gives the Lakers some flexibility after the 2023-24 season. Russell has a player option that he could accept and shackle the Lakers next season. Dinwiddie is on an expiring deal, which gives the team so many more avenues it can explore after the season. That is better than being at Russell's mercy.
Ideally, the Lakers would be able to flip Russell, JHS and some second-round picks for an even better guard (like Malcolm Brogdon). If that is the best-case scenario, this is not a bad fallback plan.
Brooklyn Nets trade grade: B+
Say what you will, but this is a pretty good trade package for the Brooklyn Nets. The return is not that big and Nets fans may want more but considering what they are trading, this is a fair package.
Both Dinwiddie and O'Neale are on expiring deals and aren't going to warrant a haul of trade capital on the market. Dinwiddie's salary is a bit bloated and there are not many contending teams that have the contracts to send back for him. O'Neale is a great role player, but he is probably only commanding a second-round pick or two on the market.
In this deal, the Nets get a recent first-round pick in JHS, a second-round pick, and another asset in Russell that they can convince to stay for another season to try and flip him as an expiring. If he leaves then the team resets the books like it was going to do anyway with Dinwiddie on the roster.