C.J. Watson ended the Bulls season by grasping defeat out of the jaws of victory. Bulls fans go over the play in their mind over and over again wondering why he didn't keep the ball. However, no one feels worse than Watson over his gaff. He knows what it cost his team. He knows they'd be playing today had he merely attempted to dribble out the clock.
Regardless of that play though, one fact can't be escaped. At a shade over three million dollars a year and on a one year deal, the Bulls can't do better at back up PG than C.J. Watson.
Chicago may look to add a new third point guard as well with Derrick Rose set to miss a good portion of the season [anywhere from about two months to almost the whole thing]. However, with limited resources, that's all the more reason they can't afford to lose Watson. They can't try to bring two new point guards, especially since they aren't looking for a long term solution at the position.
It's also time to sit back and realize that C.J. Watson had a nice year for the Bulls. Yes, he struggled to pick up the slack for Derrick Rose, but who wouldn't? What team is going to have a Derrick Rose behind Derrick Rose? That's absurd. If the Bulls had other offensive initiators to play around Watson, like the Boston Celtics for example, then he likely could have stepped up and played his role even better.
However, the Bulls whole offense is centered around the PG creating shots for everyone else. The responsibility at the position is tremendous and there's not a player in the NBA making under the MLE who could step in and fill those shoes [rookie contracts excluded]. For much of the season, Watson helped carry the Bulls. He helped keep them afloat. He filled in admirably for Derrick Rose.
The Bulls struggled to produce from the PG position against Philadelphia all series long. Philly has an array of athletic perimeter defenders that trapped constantly, and the Bulls simply couldn't pass out of it. It was a rough series for Watson [and Lucas], but the Bulls can't afford to kick Watson to the curb out of the emotion of a disappointing series.
The simple truth is the alternatives aren't better, and the Bulls have limited resources. They can't afford to spend them trying to replace a player who's value exceeds his contract.