Summary
Bertans had his best season in '19-'20, averaging over 15 points per game on 43% 3-point shooting, looking like one of the premier shooters in the league. He was able to hit shots off movement, with little airspace, and had real gravity coming off screens. He hit a league-leading 55% of his corner threes that season. Bertans leveraged that play into a 5-year, $80 million contract, which unfortunately became one of the worst contracts in the league shortly after.

Bertans has simply struggled to make an impact since '19-'20. He has shot a solid 38% from three, which is good but not at that elite levels it needs to be for Bertans to provide value considering he doesn't do much else. He doesn't get to the rim at all, and over 85% of his shots have been 3-pointers over the past four seasons. He isn't a playmaker by any means, averaging under one assist per game since '19-'20 also. 

Defensively, Bertans is hard to keep on the court. He doesn't have the lateral mobility to stay in front of opponents on the perimeter, and doesn't have the size or strength to be a rim protector. His awareness and level of effort on that end is also poor, which compounds his physical limitations. 

Bertans can still provide value as someone that can hit open shots, and during the regular season in the right lineups, he could likely be hidden defensively enough to survive. There's a chance he could still be a solid rotational player, but anything beyond that is unlikely. He will also already be 31 years old in the summer of 2024, so he is on the back-end of his career.
 
Cap Considerations
Bertans has a $16 million early termination option for '24-'25, and if he declines that option he will be an unrestricted free agent with a $24 million cap hold and full Bird Rights, meaning the Hornets will have no restrictions on re-signing him. If he opts in, his contract is only $5.25 million guaranteed, so he's also possible to be waived in that scenario. 

If Bertans opts out, his starting salary in free agency will most likely be above the $12.9 million Nontaxpayer Mid-Level Exception, so only teams with cap space will be able to sign him. If Bertans and an above-the-cap team have mutual interest, a sign-and-trade could be worked out. 

If Bertans opts in and is waived, it's likely he would only get offers below the full MLE, so teams without cap space would be able to sign him, including teams over the first apron by using the $5.2 million Taxpayer MLE. It's not out of the question that Bertans would only get minimum offers, meaning any team could sign him.