Here is a couple speculations on my part. By giving up some cap space (though not much) and acquiring a draft pick; I think Olshey is still waiting and hoping for another deal like his Chris Paul deal. He probably has decided that he won't be able to grab a free agent this summer who is a difference maker (is there any one besides Durant?) and maybe foresees not having enough cap space for the free agents the summer after since we need to sign some of our own guys soon. So he is collecting assets for a trade. Now, why did he grab Roberts, who is a definite upgrade over Frazier, but not keep Varajao? Yes, Varajao is better than Alexander, but if he thinks Alexander is still improving, he could be another trade asset by next year; obviously Varajao (and Frazier) not. Also relationships with agents are very important to Olshey, maybe he did it as a favor to Varajao's agent?
From Deadspin: http://deadspin.com/the-pistons-are-voiding-a-three-way-trade-and-it-has-h-1760618513 Can we expect the Rockets to tank to keep their draft pick?