UPDATE: Don't look now...but the Bobcats are interested in Afflalo...
Why the Bobcats do this:
The Bobcats are starting to look like a basketball team, and as such they are desperate to make the playoffs. Right now their starting wings are Gerald Henderson & MKG -- clearly Afflalo would be an upgrade over either player. The Bobcats currently have Al Jefferson and Ramon Sessions as their "veterans", so Afflalo would also be a great addition for more than just his skills on the court, particularly in mentoring the young players.. He'd provide a steady veteran presence along with a solid talent upgrade at their wing -- keeping their defense up while boosting their offense and taking some of the pressure off Walker & Jefferson. Thinking on it, a Walker-Afflalo-Jefferson based offense seems pretty darn balanced on the offensive end. Since Afflalo wouldn't really hurt their defense (actually it would add more defensive depth, so it would likely better their defense), this would make CHA better immediately on both ends of the floor.
Adding in Davis is about making the salaries match while giving CHA a bit more front line depth/flexibility. They probably don't love his contract, but right now their front line is McRoberts, Jefferson, Zeller (rookie), and Biyombo. Inserting Davis could actually be an upgrade in some aspects. The Bobcats' contract situation isn't terrible and Davis comes off the books soon, so eating his contract for now could be worth it to get their hands on Afflalo.
Why Orlando does this:
First off, the Magic get to move Davis' contract, which not only frees up some cap space but also opens up minutes for the young bigs. Including Davis in a larger deal is really the only way the Magic are going to move Davis, so doing it here means that they don't have to ride it out while he eats up valuable minutes until the end of next season when he expires.
Building on the money side, the Magic will free up long term money to the tune of at least $14 mil if Afflalo opts out of his final year (which he should/will) and creates a $13 mil influx of cap-space due to Gordon's expiring contract. The financial flexibility they'd have at the end of this season would be huge. How whuge? If they don't pick up their option on Nelson, Victor Oladipo would be the highest paid player next season at $4 mil.
Aaaaaaand, of course, they land a pick that is currently sitting at #10 in the 2014 lottery. This mean the Magic would walk into this loaded draft with 3 picks under 15*. They'd no longer have Afflalo as trade bait to move up, but they would still have several young assets available for that (Harris & Harkless mainly) if they really fell in love with someone in the 7-10 range.
Now, it's true that the pick is top-8 protected, so on the chance that the Pistons implode and keep their pick, the Magic get the Piston's pick next year with only a top-1 protection...so basically unprotected. Even if they miss out on in this draft (a big blow, to be sure), they'll likely have a solid pick next year and they still get the cost benefits of moving Davis, cap space, plus the added minutes for Harris & Nicholson to develop/showcase.
*note: This accounts for both Detroit and the Knicks missing the playoffs. CHA is currently in the 8th seed, just ahead of the Pistons...so CHA getting better makes it tougher for those teams to slip in. It would likely take a drop off from either the Nets or the Wizards for either of those teams to make it in. It's possible one of them earns the 8th seed, but certainly not a sure thing.