My logic:
1) Bledsoe doesn't care as much about where he plays, he just wants a commitment to start from an organization. He also wants the ball in his hands. He has that on both accounts.
2) Bledsoe likes Hornacek that he actually takes coaching. Bledsoe doesn't like shooting when his percentage is off, but Horny keeps telling him to shoot and his confidence sky-rocketed before the injury.
3) Bledsoe is 24 and is already more complete. Dragic is 27, less complete on the defensive end, and is sorely lacking range. When healthy, Bledsoe is > than Dragic, and Bledsoe still has some game to grow.
4) In the games the Suns have lost, you can see Dragic's biggest weaknesses. Push him off the pick-and-roll, make him a shooter, and the entire team is weakened. He's neither strong enough nor a big enough threat outside to force better defensive teams off pressure. This will become all too apparent in the playoffs. Dragic knows it better than anyone, and regularly passes up open jump shots off that set.
It should be known the Suns have no intention of trading either. They love the pair together and they still believe Dragic will develop range to become a more competent two guard. My broader point was Bledsoe remains the starting PG on this team and Dragic is the second guard. When Bledsoe returns, Dragic won't be handling the ball all the time.