It's... interesting? I'm not entirely sure why OKC did this, aside from furthering their plan to acquire every first round pick from now till 2026. They traded one albatross contract for another, and I'm not sure who they'd be able to flip CP to unless they're banking on a contender (I'm looking at you, Lakers) getting desperate mid-season and ponying up a collection of shorter contracts to get OKC out of the long term financial obligation of Paul's deal. I don't see this notoriously-cheap franchise buying him out.
It makes sense for Houston because of the strain on the Harden/Paul relationship and Westbrook is younger, but I have questions about a Harden/Westbrook reunion. Westbrook is essentially useless off the ball. Still, worth the roll of the dice going into a season where their doesn't seem to be a clear favorite.