Why not let Knight go as a free agent (addition by subtraction)? We have a number of candidates for a legitimate starting "2" right on our roster.
But that would take giving up on the 2- or 3-Point Guard Tweener concept that symbolizes the regime of McDonough/Hornacek. The only way that is going to change is if they also move on.
McDonough made that clear when he said that, as long as he is GM, the Suns are going to have two starting Point Guards.
As far as Bledsoe leading the team as Point Guard, that is a different matter. As spectacular as he is from time to time, for him to do his thing at the Point consistently, the Suns would need a superstar like LeBron or Kobe running the offense from their position.
McDonough is locked into Bledsoe as our starting Point Guard. Once again, the only way that is going to change is if he and Hornacek move on.
Tinkering with those two concepts is not going to take us to the next step. It will only leave the Suns in the netherland. Sarver has to grow a pair or else that is what will happen.