Summary
Randle was one of the biggest surprises of the season, leading the Knicks to a respectable record and having one of the most-improved shooting seasons ever. Randle was a legitimate All-Star this season and even had a case for making an All-NBA team. He's still a bit inefficient, as his 51.8 eFG% was well below-average for a big (and would be below-average for a wing also), but he's really starting to round out his game.

Randle has a really nice combination of quickness and strength, allowing him to beat bigs off the dribble, but also having the strength to absorb contact and finish inside. He also shot a vastly-improved 41% from three this season, which is a big increase from his previous career average of 30%. He also hit a very good 43% from midrange, especially considering those are mostly tough, off-the-dribble attempts.

He turns it over too much, but his playmaking has improved overall. He can legitimately lead the break and find shooters. He also has the ability to find teammates as the roll man out of the pick-and-roll, or just isolation situations.

Randle was previously seen as a tweener, as he was probably best suited to be a center on offense but a power forward on defense, but his improved shooting has made it possible to play him at the four.
 
Cap Considerations
Randle has $4 million of his $19.8 million salary for 2021-2022 guaranteed, and if he is waived he will become an unrestricted free agent and the Knicks will have no form of Bird rights on Randle. After his breakout season, the Knicks will not waive Randle. In the vastly unlikely scenario where Randle is waived, a team could claim him off waivers, but would need to be able to fit his full salary into cap space or into a trade exception.

In the even less likely scenario where Randle went unclaimed,  as a free agent, Randle would demand a starting salary of more than the full $9.5 million Non-Taxpayer Mid-Level Exception, which means only teams with cap space would be able to sign him.