I dont think Memphis has more upside than the Utah teams did. Memphis certainly has a wide range of possible outcomes, which is exciting if you follow the team. They also have less age related regressions on the horizon (the thing that really hurt the Jazz is that the age regression came a year earlier than I thought it would).
They don't have the 2nd perennial all-star yet. JJJ could be that dude, but my lord is he inconsistent. Bane is very good, but I dont think he's all-star good and I'm not sure how much he will improve.
Maybe Ziare Williams can become that guy. Maybe they can draft/trade for that guy, but they need to take their depth and trade up for more high end talent. And like with Utah, not everyone will like that move and many will bitch about other moves they could have made if they didnt make that move