A counter offer
You can argue the window is already closed, but with Butler on the roster, there will always be a sliver of hope that we can make another miraculous run because we've witnessed it with him.
With the young guys and Bam leading the way, it will take time to get back into contention unless a player from the young core exceeds expectations.
That's why I'd only deal with the Rockets if they offered Jalen Green instead of Cam Whitmore. It's a win-win-win. The Rockets are closer to contention, Jimmy returns home like the prodigal son, and the Heat restarts their timeline with a potential superstar scorer.
With trading Butler for Jalen Green instead of Whitmore, Heat fans could convince themselves that Erik Spoelstra will make Green look like 2021 Zach LaVine with solid defense.
That trade gives more hope, whether that's wishful thinking or not. Green didn't get extended, so the Rockets don't know if he's their cornerstone piece -- maybe they build around Alperen Sengun and the youthful playmakers around him. The Heat could snag Green if Jimmy is on the move.