That really depends honestly.Trading him for a #2 overall is dumping him? How about for a #13? Still "dumping"? Or smart management of resources?
If you ask me, I'd roll with just one of the two QBs (yeah, I'm fine with Pax in the blind after a Siemian trade), and convert the other one into more wins. Guys like Fournette, McCaffrey, Howard, Ross, Robinson, Foster, Reddick, etc., can start on this team in 2017 and provide more expected wins than our backup QB.
Either one of our QBs could easily fetch a first round pick. Paxton has all the physical talent, plus a year of development that teams don't want to wait on (Freyaka, I have no clue where you get off saying teams want to wait a year or two for their QB to develop. that's pure rubbish). The question with him is between the ears, but even with those questions he is still better than any of these 2017 prospects right now. Those guys need more seasoning. None of them have his arm (edit: Mahomes does). Watson has great moxie, but only a 49mph arm. Paxton is a 59mph arm. Watson's arm at 49 is arguably unplayable in the NFL. Mahomes is the only gun at 60 mph. Kizer and Trub are respectable (NFL 'cut-off' is about 54mph) at 55-56.
We may just disagree on this, but either of our QBs are first round draftable. We got lucky to get an NFL starter-candidate in the 7th.
Just because you personally (anyone reading this) don't value either one as a 1st doesn't mean that the highest bidder won't see them that way. The NFL starting QB is the rarest and most coveted player on a roster. If you are a team with a huge hole there much like the Broncos have a huge hole at left tackle, you get antsy to fill that hole. It's the most critical position on the roster.
#fillholes
Is Paxton a franchise QB? I don't know...
If he is a franchise QB, those are hard to come by.