I agree it's flawed logic...Lee has over-compensated his pick. However, He IS a role player. Ron is better than a role player. I think his major point is...what's all the hype about Lee. While a nice player and great to have, he's definitely not worth Artest.
Ron is better than a role player...and worse than a roleplayer. He lost for years and years, then destroyed a franchise at the brink of contention, just gone done "leading" his team to a yummy 33 wins last season, and in general may just be a loser.
Lee may "only" be a roleplayer, but he's a very good one, knows his role, causes no problems, and fills his specific role very reliably. New York apparently isn't the only team that thinks that that kind of reliability might have more value than a self absorbed nutter who managed to complain about his role, undermine his coach, throw tantrums in the locker room, get charged with neglecting his dog, and then with abusing his wife, announce he was retiring, and then change his mind all in the space of 6 months. Ron was the best player the Kings had last year. Sometimes that's the bad news and just not worth the trouble.
As for the Lakers deal...while Bynum would be lovely, if we get an ender (attached to a 6'11" guy no less) a pick and a kid out of ANY team for Ron at this point it has to be strongly considered. Let the other team be the one to have to face the end of Ron's contract, deal with an erratic immature person as he decieds whether to stay or go...once a day. And figure out themselves what is worse, losing ron for nothing or signing him to a big contract that could marry them to him forever.