Julius Randle didn't have a long-term future with the New York Knicks
There are times when NBA teams trade a player in the final year of his contract and don't get a ton of value in return; that may be a true reality the New Orleans Pelicans may experience when/if they end up trading Brandon Ingram in-season. But for the Knicks to get Karl-Anthony Towns back in a deal centered around Julius Randle is a huge win. With just one guaranteed year remaining on his contract, there was a good chance Randle was going to opt out of the final year of his deal to pursue a long-term contract (from the Knicks or another team in free agency). The argument could be made that he may not have had a long-term future in New York anyway.
The Knicks didn't make lemons out of lemonade, they did so much more by upgrading a position of need. While KAT has had his struggles throughout his career, he's a better player than Randle in almost every way. Adding a player with his talents at his age (28) is rare. The fact that the Knicks won't need him to play a primary role is also huge.
If there's one thing we've learned about KAT through his career, it's that he is more comfortable and excels in a supporting star role. That's exactly what he's going to play in New York alongside Jalen Brunson, Mikal Bridges, and OG Anunoby. It's hard not to love this trade for the Knicks.