This type of move sends a message that doesn't necessarily wins being sacrificed, the current roster barely made the NCAA's last year. What is does signal is a lack of desperation that typically is seen by new head coaches that are initially so motivated to do whatever it takes to secure that 2nd larger contract.
Chris Mullin certainly doesn't need St. John's money, he has a vested interest in rebuilding the program in a specific image that can occasionally add a Rysheed Jordan or Obekpa type of player, as long as the rest of the roster's core, is solid off the court and in the classroom. I think that in a way, it's the only true way to rebuild a program, which is where most programs fail in their attempts to get there.
In some ways, a program needs to express themselves through their efforts on the court that can translate and connect with their fan base. In this case, an 8 point road loss at GTown without an Obepka or Jordan is probably better in the long term vs a 1 or 2 point loss or a win, where the kids are not within the team concept on or off the court and certain kids are expecting minutes vs earning them.
Ron Rowan was a spot up shooting guard that has a son in the Top 75-100 for the class of 2016. St. John's is trying to get him reclassified for 2015 and bring Maverick Rowan in now, if at all possible. It is a legacy recruit that Lavin really wasn't going to land and kids at this talent level probably should be considering St. Johns and Mullin. Mullin and Rowan as teammates should have a trust factor that allows the right environment to be built, vs. attempting to land the highest rated player on the board.
What St. John's fans are going to struggle with after a year or two is trusting Mullin to ignore the win-loss record and focus on how the team plays. Mullin has to get kids to defend and dive on the floor and be the scrappy St. John's of 20-30 years ago. If he do that, this becomes a home-run hire.
If however, Mullin cannot connect with these kids and get them to empty the tank and then your sacrificing wins and giving up more layups and dunks by chucking Opekba out the window, Mullin's honeymoon period will be extremely short-lived.