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If you knew you could sign an Orlando Hudson for $8M per year, freeing you up to deal Jose Lopez for an impact player, that's a rotisserie-type maneuver that could net out very well.
It would be a lot easier to do that, than to find a pitcher of John Danks' caliber for $8m per year.  So, yeah, in isolation, that's cool -- exploit a nice opportunity on the FA market, at a position where you're already strong, and then wheel around and make an impact trade.
Not usually very doable in the real majors, but I'd certainly rather have Hudson & Danks than Lopez + $6M.
...............
That's a separate issue from the other components, like Morrow-for-Hardy.  I'll be VERY interested to see if the Brewers can get marquee talent for a guy they just gave up on.

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