Summary
After pretty much falling out of the league, Melo revived his career in Portland in the '19-'20 season, and has continued that similar level of play with the Lakers in '21-'22. Anthony has shown that he can still hit outside shots at a solid rate, and is someone that you can go to in the mid-post with the shot-clock winding down. Melo isolating in the mid-post is not something you want a heavy dose of in your offense, but it's a nice fallback to have with second units when the offense gets stalled.

Anthony's eFG% in '21-'22 was above-average for the first time since 2015, and that's mostly due to him now taking a majority of his attempts from three, and hitting them at a solid rate of 38%. He even shot a career-high 48% from the midrange as his volume from that area has declined. He doesn't get to the rim that often anymore, and when he does he just doesn't quite have the lift to consistently finish down there.

Melo struggles on defense, as he has never been a strong perimeter defender, and that has only worsened with age. His defense deficiencies can be masked while playing against second unit, but you still would ideally have a decent rim protector next to him to make up for some of his mistakes.

Melo has been able to extend his career, but has too many flaws to get more than minimum offers, so I would expect the contract that he signs in 2022 to be another one-year minimum.
 
Cap Considerations
Anthony will be an unrestricted free agent with a $1.8 million cap hold and Non-Bird Rights. This means that the highest starting salary the Lakers could offer him using the Non-Bird Exception is $3.4 million. This should be enough to retain Anthony, since he settled for the minimum of $2.6 million to come to Los Angeles. Alternatively, the Lakers could use their Taxpayer Mid-Level Exception to re-sign Anthony if he demands more than $3.4 million.

Other teams will have multiple ways to sign Anthony 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. It's also likely that Anthony only gets minimum offers.