It's on the cusp of being voted down IMO... I don't believe it's collussion, but it seems the guy trading Lee is just dumb. I'd have to see the guy's roster and see if he's as stocked at OF as you say... Even so, he could get a better deal for Lee than that.
I think what the comish did was OK, he's giving the dumb guy (A) a chance to rethink it, and (b) the other teams a chance to make a better offer.