Not really, IMO. Favors is an unrestricted free agent that has sent signals that he's out several times over the years and doesn't fit with Gobert who is a consistent player, all-world defensive force, and under contract for as long as just about anyone in the NBA is. Gobert will be here and Favors is very likely to leave, whether he plays well or not.
Conversely, if Hood is mostly a spot-up shooter and decent off-the-bounce in a pinch and has his heat check moments, then that's fine. The Jazz own his rights. The only scenario the Jazz need to be concerned is if they think someone is going to throw a stupid offer at him, at which point, you see what the market is right now. But considering the upcoming market and his unimpressive play so far and on a bad team that is asking him to use possessions, I'm not sure that offer is coming.
The three things that matter going forward are:
-Gobert
-Mitchell
-the acquisition and development of talent to build with in the future, and with those two in mind.