I think the difference as to whether I'd do it or not is what King becomes. To me, he looks like a future RF/1B who'll lack power. Nothing about his currents make me go "WOW! He's gonna be something special." Had he traded him for a 33 y/o pitcher, I probably think it's dumb. But, from my viewpoint, he got a very productive pitcher, for quite some time, for a standard, off-the-rack RF.
Also, due to the age of the pitcher and the nature of pitcher/position player regression, I don't feel it's a short-sighted deal.