Honestly, I feel like anyone can talk themselves into contending in the East right now with a few moves. Cleveland still looks primed, but I don't think anyone is going to feel hopeless against them like they would have against say Boston coming into this last season after their last two postseasons.
It would be a little unprecedented given their position and pick, but I could see Charlotte getting loose with the #4 pick. 90% they regret it, but teams also regret being bottom 10 every year for a decade.