Joe Smith is a Hawk according to Ric Bucher. And we didn't even need to illegally maneuver to sign him! The team now has a first, (two) second, and third overall pick on the roster. We have some of the best, one time long ago projected talent in the league. The Joe Smith signing will not change the course of the team too much. If Joe Smith gets enough minutes to make a large impact positively or negatively, we are looking at serious time without Zaza and/or Al Horford, and that would mean only bad things.
But what the signing does say, is that Rick Sund is interested in and capable of putting together a full team with real depth and a variety of skills. Joe Smith may only play the same amount of minutes as Solomon Jones, but nearly every single one of those minutes will be an upgrade from last year. Really, Joe Smith provides everything you would want in a veteran's minimum salary. He has leadership, playoff experience, and a needed and still decently effective skill set.
Some people may have wanted a player that has more of an upside than decent effectiveness, but the Hawks were not in position to spend anything more than they just did, and with the kind of minutes available, the intangibles Smith will bring to the locker room may be just as valuable as the 800 or so minutes he gives on the court.
And let's get serious. That "Joe Smith" jersey is worth at least a roster spot.