Yes, I actually do think that would make us a better team and would allow Naz to be a full-time PF and for Jaden to essentially slide down and play some PF too, which I think long term might be his best position.
I don't think it's super hard to replace Randle's scoring and play making with a combination of Jaden, Shannon, and Dillingham....and Tyus too since he'd probably get a little more usage than Conley did.
FWIW a different perspective last night I listened to the Game Theory podcasts on Wolves FA before all the moves and the FA commentary of what they thought of basically running it back. They both agreed that moving on from Randle without adding another #2 option besides the players with the Wolves would be a problem especially in the playoffs. They were like if you think Edwards got a lot of attention on defense imagine if the next top options were Naz and McDaniels. They said McDaniels showed some growth this year and in the playoffs he took advantage of the fact that teams didn't really guard him. They really like McDaniels but aren't really sure he is gonna take that step to being a 16 or 18ppg scorer. If he is then yeah ok but they aren't sure that's there. I think it may be harder than people think to replace all of what Randle does. The Wolves lost to OKC but what stats did Randle put up? Meanwhile how much use is Capela going to have most playoff series unless Gobert is hurt? At that point maybe you just play Beringer and let him see what the playoffs are like or play small...since a lot of team will probbaly be small anyway unless this little trend of scooping up centers continues. The Wolves might still be able to sign some sort of useful defensive big yet.
The Wolves can have those young guys do all the things you said and have Randle on the team too. He has shown willingness to step aside for other players. For example he only took 2 more shots a game than Naz in the regular season and he played more minutes. Ideally in the regular season Gobert plays a little less and Naz gets more run.
Again IMO we need to be adding more scoring and play making not less. Tyus Jones highest scoring rate per 36 mins was a couple years ago for Memphis at 15ppg. At this point we have enough data to say there is only so much there when it comes to scoring from Tyus. At this point NAW is about the same level of scorer and a better defender. It probably isn't a surprise NAW got nice contract and Tyus didn't because of his positional versatility on both sides of the ball. Tyus deserves better but...I think the league looks at him more as only a top backup than a potential starter. It doesn't help Tyus that there is a decent amount of FA options at the position this year. Schroeder is making up for some of that money he turned down years ago.
Let's say you go this route then who is the guy playing minutes at PF if Naz or McDaniels gets hurt? Is there some vet min FA PF that you feel good about or someone else on the roster playing those minutes? I probably woukd have felt better about Minott playing some there than Miller but hopefully Miller is ready because I think he might end up playing some minutes a few games because Randle tends to miss some games. I agree McDaniels can be deployed at PF but him playing there too much eliminates some of the advantage the Wolves have by playing him as a huge wing. They also really don't have another big wing because everyone else is more SG sized even TSJ.
Yes, Randle is a proven #2 option on a Conference Finals team, but a) he's on the wrong side of 30, b) he still holds the ball too much and we already have that problem with Ant, and c) he can't slide down to Center without it compromising our defense in some way.
I'm willing to gamble that the cream would rise to the top and ultimately an equally good (or close) #2 emerges between Jaden, TJ, and Dillingham. I don't know which one, but Randle's departure would really open up more opportunities for all these guys.
In terms of backup PF, it would probably be Miller if Naz or Jaden got hurt. I also think TJ could play some small-ball PF, as he measured 6'6" (without shoes) and 220 lbs. at the combine, which is bigger than Jalen Williams. It's at least big enough to play SF, which is the primary position TJ will play for us backing up Jaden at the 3.