Summary
Luwawu-Cabarrot seemed to have revived his career in '19-'20, hitting 39% of his threes, including 48% from the corners. However, his three-point shooting was down to 34% this season, which is above his rate prior to joining Brooklyn, but still below average. Due to that track record, I'm not sure we can trust TLC as a real shooter just yet. And without that, I don't think he provides enough else to really be a solid rotational piece. He doesn't finish well at the rim, and doesn't make plays for others.

He's serviceable at best on defense, and his skinny frame makes it difficult to defend bigger wings. TLC needs to either improve his craft around the rim, or hit shots at a higher rate, to be more than just someone that can fill spot minutes during the regular season as a 10th or 11th man.
 
Cap Considerations
Luwawu-Cabarrot will be an unrestricted free agent with a $1.7 million cap hold and Early Bird rights. Using his Early Bird rights, the Nets can offer TLC a starting salary of 5% above the average salary (around $10 million), which should be more than enough. However, anything above the minimum would continue to cost the Nets more in their high luxury tax bill, so they may be reluctant to re-sign him for anything above the minimum.
 
Other teams will have multiple ways to sign TLC as even teams without cap space could possibly use any of the Non-Taxpayer MLE, Taxpayer MLE, or possibly even the Room MLE or Bi-Annual Exception to sign him. There's also a chance that TLC ends up settling for the minimum.