Well, Dragic will be gone for nothing this summer, so getting a first-round pick for him is a good thing. Nobody will give up a lot to get him when they can sign him outright in the summer.
He
could be gone with no compensation. Everything the Suns front office has said indicates they want to bring Dragic back. I don't think they're lying when they say that, the price has to be right and of course Dragic has to want to resign. I believe the team would be much better off sending Thomas off. I can't see Dragic resigning if both IT & Bledsoe are still here next season though. Losing Dragic, by trade or free agency, I think will hurt the team from an attendance and fan support side of things as well. He's arguably our most popular player and attendance and interest has been down this year even though they've been winning at a good rate.
They could be shopping him in order to see who his suitors might be in the offseason, if a team is really interested now and will have cap space this summer then chances are they'll pursue him. Shopping him could be a way of gauging the sort of attention he'll receive in FA and also help them better understand what other teams might be willing to pay him. They could still send him somewhere in the offseason in a sign & trade also.
It's all rumors right now and guesses right now. The only thing that confused me as the deadline draws closer is IT taking part in the Skills Competition during All Star Weekend. Out of our 3 PG's the one off the bench is chosen? Not Dragic who was All NBA last year or Bledsoe who is having a career season? I don't know how players are selected for that, I don't think it's something like the 3 PT contest or Slam Dunk contest where players lobby to be a part of it. I don't think that will help showcase him for a trade, if anything it says they're keeping him around, although I could be wrong.