We're only lacking depth when 2 of our starters are injured. With them in line, we have more depth than any of the elite teams who have a shot at the championship.
And as a few people have mentioned, not trading Wally means an extra 26 mil for Gilbert next year. However, he's willing to pay that 26 mil so long as it's for a player who gives us a significant chance to win a championship, but he's not going to pay 26 million dollars at a marginal upgrade who may make us better so long as they adapt to our system and don't cause any chemistry issues.
There's still a great chance someone will become available, because many NBA owners are losing money, and will be looking to stay below the luxury tax. I'm really curious to see if Portland will be willing to trade off one of their young stars in a package with one of their terrible contracts to get below the luxury tax. The franchise is hurting a bit, and the Darius Miles issue has pushed them well into the luxury tax waters, something they really wanted to avoid. I highly doubt it'd happen, but I'm still curious