It makes sense financially. In a straight Okur swap, the Jazz decrease their overhead by almost 6 million including the tax. Next season, with tension about a new CBA, they drop almost 5 million off the payroll. And in year 3, a 6 million dollar Redick is relatively cheap and tradeable. As a basketball decision it's more questionable. The one advantage is it buys a player in the window of his prime allowing for a relaxed development curve with Honzward. I could see KOC thinking that Bell/Redick/CJ/Hayward signed to reasonable deals being the better alternative to uncertainty with AK and/or having to sign and FA to fill the spot.
I seriously don't think the Magic are THAT desperate.